{"id":1455,"date":"2020-07-22T22:11:26","date_gmt":"2020-07-23T03:11:26","guid":{"rendered":"https:\/\/evglobe.com\/?p=1455"},"modified":"2020-07-22T22:12:02","modified_gmt":"2020-07-23T03:12:02","slug":"tesla-q2-earnings","status":"publish","type":"post","link":"https:\/\/evglobe.com\/2020\/07\/22\/tesla-q2-earnings\/","title":{"rendered":"Tesla Q2 Earnings: Delivers profit, beats expectations"},"content":{"rendered":"<p>Tesla\u00a0just reported its second-quarter\u00a0<a href=\"https:\/\/ir.tesla.com\/events\/event-details\/tesla-inc-q2-2020-financial-results-and-qa-webcast\" target=\"_blank\" rel=\"noopener noreferrer\">results<\/a>. Shares went up more than 4 percent after hours as the California-based electric automaker beat expectations and reported its fourth straight quarter of profits.<\/p>\n<ul>\n<li><strong>Earnings:<\/strong>\u00a0$2.18 (ex-items) vs. 3 cents per share, expected.<\/li>\n<li><strong>Revenue:<\/strong>\u00a0$6.04 billion vs. $5.37 billion, expected.<\/li>\n<li><strong>Net income:\u00a0<\/strong>$104 million (GAAP)<\/li>\n<\/ul>\n<div class=\"BoxInline-container \">\n<div id=\"BoxInline-ArticleBody-5\" class=\"BoxInline-container\" data-module=\"mps-slot\">Tesla also reported its first full year of profitability on a GAAP basis, which means it can now be considered for inclusion on the S&amp;P 500 index.<\/div>\n<div data-module=\"mps-slot\">\n<p>Automotive revenue declined by 4% year-over-year for Tesla from $5.38 billion to $5.18 billion, despite the company adding a new crossover SUV to its lineup, the Model Y, and opening a new plant in Shanghai in the past year.<\/p>\n<p>In the year-ago quarter,\u00a0Tesla\u00a0reported $111.2 million in revenue from regulatory credits. That number nearly tripled to $428 million in regulatory credits in the second quarter of 2020.<\/p>\n<p>Last year, Tesla\u2019s shares were trading around $250. Now, they\u2019re trading above $1,600, making the company the most valuable auto-maker in the United States. by market cap.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Tesla\u00a0just reported its second-quarter\u00a0results. Shares went up more than 4 percent after hours as the California-based electric automaker beat expectations and reported its fourth straight quarter of profits. Earnings:\u00a0$2.18 (ex-items) vs. 3 cents per share, expected. Revenue:\u00a0$6.04 billion vs. $5.37 billion, expected. Net income:\u00a0$104 million (GAAP) Tesla also reported its first full year of profitability [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":382,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[3],"tags":[24],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tesla Q2 Earnings: Delivers profit, beats expectations<\/title>\n<meta name=\"description\" content=\"Tesla\u00a0just reported its second-quarter\u00a0results. Shares went up more than 4% after hours. 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