Why Tesla's Q2 Performance Was Impressive
Tesla (NASDAQ: TSLA) surprised investors on Wednesday afternoon with better-than-expected profitability, marking the company's fourth-consecutive quarter with a positive bottom line. Tesla posted non-GAAP earnings per share of $2.18, up from a loss of $1.12 in the year-ago quarter. Analysts, on average, were expecting non-GAAP earnings per share of $0.03.
Even on a GAAP basis, the electric-car company's earnings per share (EPS) was $0.50, up from a loss per share of $2.31 in the year-ago period. Revenue similarly beat expectations.
Of course, critics are quick to point out that Tesla's profitability benefited from $428 million of zero-emission regulatory credits. Without this benefit, the automaker would have reported a GAAP loss during the period.
Source Fool.com
