Tesla's Per-Car Profit Fell Another 8% Last Quarter, and I Fear This May Be the New Norm
What looked like a budding turnaround was quickly undermined, mostly by the availability of other manufacturers' electric vehicles.
Overview
Earlier this month, drastically improved second-quarter delivery numbers rekindled hope that electric vehicle (EV) maker Tesla (NASDAQ: TSLA) was back on track. The company's fiscal second-quarter results, reported after Wednesday's close, however, tainted those strong delivery figures. Here's a closer look.
Yes, despite beating analysts' top-line expectations, Tesla's Q2 earnings fell short of estimates. The company turned $28.2 billion in revenue into a per-share profit of $0.33, versus analysts' consensus forecasts of $26.3 billion and $0.50, respectively.
Details
Granted, the company is establishing or growing several different businesses with unpredictable developmental costs. These include solar panels and energy storage batteries, of course, but also robotaxis and, soon, humanoid robotics. That's why the earnings miss doesn't necessarily mean a great deal.
Source
Originally published at www.fool.com.