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Tesla shares lost 11% because of the weak reporting

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Tesla shares lost 11% because of the weak reporting
July 25
13:00 2019

In the II quarter of this year, Tesla (the world-famous American manufacturer of electric cars) reduced losses. However, this was not enough to meet the expectations of analysts.

On Wednesday, the company’s stock price fell by 11%. It should be noted that during 2019 the company’s value has decreased by 20%. Now it is estimated at $ 45.4 billion.

For the period from April to June, the loss has amounted to $ 408 million. For comparison, over the same period last year, it amounted to $ 717 million.

In 2018, Tesla’s revenue was $ 4 billion. This year has been marked by an increase to $ 6.3 billion.

Consensus forecasts said that the average loss was supposed to be at $ 0.3 per share. At the same time, revenue should have amounted to 6.5 billion US dollars.

Elon Musk said that Tesla was planning to achieve break-even at the end of the quarter. He confirmed that the company would try to supply 360-400 thousand cars in the current year. If sales really reach this level, the growth will be 45-60% compared with 2018.

During the period from April to June, Tesla has sold 95 thousand cars. In July, the company has reported an increase in supply by 50%.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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