Tesla’s Q2 Earnings Exceed Expectations

Tesla (TSLA) delivered a mixed Q2 2022 scorecard that showed earnings exceeded expectations but revenues came a little short. Following the earnings report, TSLA stock rose about 1.5% in extended trading on July 20, to settle at $753.30. Earnings Numbers at a Glance Revenue increased 42% year-over-year to $16.93 billion, but it slightly missed the consensus estimate of $17.1 billion. Adjusted EPS of $2.27 increased 56.6% year-over-year and beat the consensus estimate of $1.81. Tesla ended the quarter with $18.3 billion in cash, up from $17.5 billion in the previous quarter. Tesla’s Car Production and Deliveries The Elon Musk-led company produced 258,580 cars, which increased 25% year-over-year.