Article Hero

Tesla delivers outstanding Q2 results

1593702262.jpg
Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Tesla is now the no. 1 global carmaker by market capitalization.

Tesla doesn't cease to surprise with its performance. If at the end of the quarter it broke its own record, as the share price gained 8% pushing its market cap at over $200 billion, today, it amazed analysts with its financial report. 

The report showed that Tesla delivered around 90,650 vehicles in the previous quarter, exceeding by far analysts expectations of 72,000. The deliveries dropped by only 4.8% compared to the same quarter last year. Moreover, the company said the production is back to pre-pandemic levels. 

The overall opinion is that the electric carmaker passed the pandemic test better than some of its competitors – Toyota, Ford, General Motors, and Fiat Chrysler, which scored losses of 30% in the second-quarter sales, as plants & dealerships closed and consumers stayed home.

During today’s pre-market session, stocks soared more almost 9% to $1,219.02, after Wednesday they closed at a record of $1,133.36 reaching a market cap of more than $207 billion, exceeding Toyota’s $204 billion.

Read more about your favorite companies on CAPEX.com!

Sources: cnbc.com, marketwatch.com

This information prepared by capex.com/za is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation, or the particular needs of any recipient.You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation, or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.This information may not be published, circulated, reproduced, or distributed in whole or in part to any other person without the Company’s prior written consent.
Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of capex.com/zaJME Financial Services (Pty) Ltd trading as CAPEX.COM/ZA acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via CAPEX.COM/ZA, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15.  Magnasale Trading Ltd is the principal to the CFD purchased by investors.

Share this article

How did you find this article?

Awful
Ok
Great
Awesome

Read More

Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.