Tesla Quarterly Deliveries Jump 25%. Here’s Why the Stock Fell Anyway.
Yahoo Finance ·
After several quarters of a struggling electric vehicle (EV) business, Tesla ( TSLA 7.35% ) finally delivered results that one would have expected the market to like. The company reported over 480,000 EV deliveries in the second quarter of the year, up 25% year over year. The number also beat Wall Street consensus estimates of 406,000. Despite the beat, Tesla stock closed the day down 7.5%. This is not Tesla’s formal second-quarter earnings report, which will take place on July 22. Within a few days of the end of each quarter, Tesla provides investors with an update on production and deliveries.
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