Elon Musk gives an interview to CNBC from Tesla headquarters in Texas.
CNBC
Tesla reported weaker-than-expected second-quarter earnings, even as revenue topped estimates. Shares fell in extended trading Wednesday.
Here’s how the company fared against Wall Street expectations, according to estimates from analysts surveyed by LSEG
- Earnings per share: Adjusted 33 cents vs. expected 51 cents.
- Income: $28.24 billion versus expected $25.71 billion.
Tesla’s earnings report comes amid a sharp decline in its share price, which has fallen about 11% this month and 17% for the year. The drop coincided with a decline in shares of SpaceX, Elon Musk’s other trillion-dollar company, which had a record market debut in June and has lost more than 40% of its value since its peak.
Revenue for the period jumped 26% from $22.5 billion a year earlier, the company said in a statement. Net income fell 5% to $1.11 billion, or 32 cents per share, from $1.17 billion, or 33 cents per share, a year earlier.
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