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Tesla Posts Record Earnings, What’s Next?
Information is not investment advice
Tesla surprised the markets again with record earnings. The positive report keeps the momentum for a better-than-expected earnings season in the US. Tesla's Q2 EPS came in at $1.45 vs. 97C estimated. Revenues also showed another surprise with $11.96B vs. $11.36B estimated. The biggest surprise came in from the Free Cash Flow which posted $619M vs. a deficit of $319M. The company still sees 50% average annual growth in deliveries, while the biggest challenge ahead remains in the supply of microchips.
Overall, Tesla’s earnings represent a new positive factor despite all the challenges of the Covid19 era and it looks like the company has entered a new phase or possible sustainable profits in the coming years.
TSLA soared to $695 after hours and trimmed it back to $664. The conference call also was balanced with no hiccups from Elon Musk. With that being said, dips are for buyers this week, and expecting the stock to retest $750 in the coming weeks could be reasonable.
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