Tesla (TSLA) Tops Q2 EPS, Sales Beat
(Updated - August 2, 2017 4:17 PM EDT)
Tesla (NASDAQ: TSLA) reported Q2 EPS of ($1.33), $0.47 better than the analyst estimate of ($1.80). Revenue for the quarter came in at $2.79 billion versus the consensus estimate of $2.55 billion.
- Model 3 production on track to achieve previously announced targets
- Expecting positive Model 3 gross margin in Q4; targeting 25% margin in 2018
- Deliveries grew 53% compared to Q2’16 in flat luxury vehicle market
- Projecting Model S and Model X deliveries to increase in 2H’17 vs 1H’17
- Q2 Automotive gross margin at 27.9% GAAP and 25.0% non-GAAP
- Q2 GAAP loss from operations improved sequentially, two quarters in a row
- More than $3 billion cash on-hand at the end of Q2
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