Tesla stock is rising after reporting impressive second-quarter earnings, particularly considering the difficult Q2 operating environment.
Tesla (ticker: TSLA) reported adjusted second-quarter earnings per share of $2.27 from $16.9 billion in sales.
Analysts were projecting second-quarter earnings per share of about $1.83 from $16.9 billion in sales. It’s a another bottom line beat for the company, Tesla’s six consecutive earnings beat, according to Bloomberg.
But Q2 earnings and sales were down compared with the first quarter of 2021. In Q1, Tesla reported EPS of $3.22 from sales of about $18.8 billion.
The sequential decline in earnings was expected because of China’s lockdowns to fight Covid-19, which constrained production and left Tesla with fewer electric vehicles to sell. Tesla delivered about 255,000 EVs in the second quarter, down from about 310,000 in the first quarter.
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