Stock market quotes, forex, financial news, forex tools – money-investing.com

Tesla shares lost 11% because of the weak reporting

 Breaking News
  • The intensification of the conflict between the USA and China leads to reduction of oil prices The energy market has started the trading session rather unsuccessfully. The next round of the trade war between the States and China caused the price fall. Because of this investors...
  • Germany saves Lufthansa An air carrier Deutsche Lufthansa AG has suffered losses because of the spread of the coronavirus pandemic. It became known that the German government had not left the matter unattended...
  • Israel economy sets anti-records Israel is a recognized high-tech paradise, a stable and strong platform for business development. However, the economy of the country in the Middle East has failed to resist the consequences...
  • A car rental service Hertz went bankrupt Hertz, the largest US car rental company, has filed for bankruptcy. The company was founded already in 1918. For a hundred years, Hertz has coped with the Great Depression, the...
  • Monday starts with the growth of oil prices The energy market started today’s trading session with the steady growth. Quotes are increasing on the signals about the recovery in demand and a decrease in production in the States....
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

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment