⚠️BREAKING: *TESLA SHARES FALL 4% AS MUSK FLAGS MORE POTENTIAL PRICE CUTS AHEAD $TSLA
EPS of $0.91 on revenue of $24.93 billion. Analysts polled by Investing.com anticipated EPS of $0.79 cents on revenue of $24.29B.
Gross margins excluding credits, which have been closely watched following recent price cuts aimed at boosting volume and battling intensifying electric vehicle market competition, fell 6.82% to 18.2% in Q2 year-over-year, though that was higher than analysts' estimates for 16.9%. "We believe Tesla is seeing steady demand post price cuts in the U.S. and China with margins now in stabilization mode that should bottom over the next 1-2 quarters," Wedbush said in a note Wednesday following the results.
The Tesla price cuts helped the EV maker boost its installed base and rake in new customers, with deliveries surging 86% to 466,140, marking a record quarter for the company. Tesla said it remains on track for initial deliveries of its Cybertruck this year. Earlier this week, the company said it had started production of its Cybertruck in Texas.Gains in Tesla shares, which are up 169% year to date, have also been driven by optimism around demand for the company's supercharger network.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Tesla’s Elon Musk says his new company xAI will ‘enhance’ Tesla valueTesla Inc. Chief Executive Elon Musk said that his new venture, a startup focusing on artificial intelligence, will not compete with the EV maker but instead...
Leer más »
Tesla drives in Q2 results beat as margins top estimates despite price cuts By Investing.comTesla drives in Q2 results beat as margins top estimates despite price cuts
Leer más »
Tesla Q2 sales beat estimates as Elon Musk’s price cuts drive demandUnder pressure from increasing competition and an uncertain economy, Tesla has cut prices and increased discounts and other incentives to reduce inventory.
Leer más »
Tesla earnings: What to expect from the Cybertruck makerTesla earnings arrive Wednesday amid a rally for Tesla stock and Cybertruck's arrival.
Leer más »
Elon Musk's biographer says Tesla chief has 'demon mode' that is destructiveWalter Isaacson, who has penned a new biography of billionaire Elon Musk, describes the Tesla chief as driven with a 'maniacal sense of urgency' and a 'demon mode.'
Leer más »
Elon Musk's Tesla Sold Bitcoin One Year Ago, Community Wonders If Repurchase Coming.elonmusk The cryptocommunity hopes Tesla will start repurchasing Bitcoin soon. $BTC $DOGE $SHIB
Leer más »