Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessTesla Stock Drops 4 percent Despite Better Than Expected Q2 Results

Tesla Stock Drops 4 percent Despite Better Than Expected Q2 Results

Add to Favorite
Added to Favorite


Tesla (NASDAQ:TSLA) reported its Q2 earnings results yesterday, with EPS of $0.91 coming in above the Street estimate of $0.79. Revenue was $24.93 billion, beating the Street estimate of $24.29 billion. Despite the beat, shares fell more than 4% pre-market today.
According to the analysts at JPMorgan, who reiterated their Underweight rating and $120 price target on Tesla stock, this was the fourth consecutive time the company missed its quarterly operating profit estimates, primarily due to the ongoing practice of prioritizing sales over profits.
The automotive adjusted gross margin, excluding the revenue generated from regulatory credits, has become a major focus for investors. Last quarter, this crucial performance indicator surprised investors by declining 1,100 basis points year-on-year, dropping from an impressive 30.0% in Q1/22 to 19.0% in Q1/23.

Subscribe to get Latest News Updates

Latest News

You may like more
more

TD Cowen Reiterates Buy Rating on Abbott Labs Ahead of Q3 Earnings

TD Cowen analysts reaffirmed their Buy rating and maintained...

Barclays Raises Lamb Weston Price Target to $74 Following Q1 Earnings

Barclays analysts raised the price target on Lamb Weston...

Macquarie Lifts Roku Price Target to $90, Cites Impressive Growth

Roku (NASDAQ:ROKU) shares rose more than 1% intra-day today...

JPMorgan Raises Tesla Price Target to $130, Cites Softer Q3 Deliveries and 2024 Outlook

JPMorgan analysts raised their price target on Tesla (NASDAQ:TSLA)...