Better than the estimates are the second quarter results announced by the car manufacturer Tesla
Better than estimates are the second quarter results announced by the automaker Tesla, resulting in a rise in its share price.
According to CNBC, Elon Musk’s company in the second quarter of the year delivered 443,956 vehicles, while total production reached 410,831 vehicles.
Analysts had expected deliveries to be 439,000, based on the FactSet StreetAccount consensus estimate. The total number of deliveries for the second quarter is down 4.8% from last year’s second quarter of 466,140 deliveries, but up 14.8% from the first quarter.
Tesla stock rose 8.8% to $228.29. From the beginning of the year until the announcement of the results, the stock recorded losses of 16%.
In April Tesla announced 8.5% drop in Q1 deliveriesthe first decline since 2020. A few weeks later the company announced a 13% drop in Q1 revenue “mainly due to the lower average selling price”
The sluggish sales are due in part to factory closures triggered by an alleged arson attack at a Tesla factory in Germany, as well as shipping delays stemming from tensions in the Red Sea, the automaker said.
Source: Skai
I have worked as a journalist for over 10 years, and my work has been featured on many different news websites. I am also an author, and my work has been published in several books. I specialize in opinion writing, and I often write about current events and controversial topics. I am a very well-rounded writer, and I have a lot of experience in different areas of journalism. I am a very hard worker, and I am always willing to put in the extra effort to get the job done.
