Tesla's Revenue And Earnings About To Take Another Hit

Tesla released its preliminary June quarter delivery and shipment results and they fell short of guidance once again. Additionally the outlook given in the press release for the second half of the year indicates that the analyst’s revenue and earnings projections will have to be lowered again.

June quarter’s loss about to become larger

The Street is forecasting that Tesla’s June quarter revenue would be $1.82 billion, up 14% from the March quarter and was probably assuming that the company could hit its 17,000 unit guidance. However, the company delivered fewer cars in the June quarter at 14,370 vs. the March quarter’s 14,810 for a shortfall of 2,630 cars. There were 74% more Model X’s making up 32% of the deliveries or 4,625 vs. 16% in the March quarter or 2,400.

More