Tesla Beats Q2 Delivery Estimates Amid Stock Drop
Tesla (NASDAQ: TSLA) reported approximately 480,000 vehicle deliveries for Q2 2023, significantly surpassing analysts’ expectations of 406,000 units and reflecting a 25% increase year-over-year. Despite these impressive delivery figures, the company’s stock fell sharply, declining by as much as 7% following the announcement on July 2, as market optimism had already been priced in prior to the report.
The company is set to release its earnings report on July 22, with consensus estimates predicting revenue of $25.4 billion and earnings per share (EPS) of $0.48. Investors will be closely monitoring Tesla’s automotive gross margins, expansion in the energy storage business, and any discussions surrounding capital expenditures and future product timelines.
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