Tesla shares wavered between gains and losses late Wednesday after $TSLA reported second-quarter earnings and sales above Wall Street’s expectations and kept its 2023 goal of making about 1.8 million EVs.
Tesla Inc. shares wavered between gains and losses in after-hours trading Wednesday after the EV maker reported second-quarter earnings and sales above Wall Street’s expectations and kept its 2023 goal of making about 1.8 million vehicles, but operating margins fell.
Tesla TSLA, -0.71% earned $2.7 billion, or 78 cents a share, in the quarter, compared with $2.3 billion, or 65 cents a share, in the year-ago period. Adjusted for one-time items, the EV maker earned 91 cents a share.Analysts polled by FactSet expected Tesla to report adjusted earnings of 80 cents a share on sales of $24.2 billion.
Tesla is focusing on “cost reduction, new product development that will enable future growth, investments in R&D, better vehicle financing options, continuous product improvement and generation of free cash flow,” executives said in the letter.
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