Investing.com - Tesla reported second quarter earnings that missed analysts' expectations on Wednesday and revenue that fell short of forecasts.
The firm reported earnings per share of $-1.12 on revenue of $6.35B. Analysts polled by Investing.com expected EPS of $-0.41 on revenue of $6.52B. That compared to EPS of $-3.06 on revenue of $4B in the same period a year earlier. The company had reported EPS of $-2.9 on revenue of $4.54B in the previous quarter.
Tesla shares lost 7.66% to trade at $244.60 in after-hours trade following the report.
For the year, Tesla shares are down 20.41%, under-performing the Nasdaq 100 which is up 29.23% year to date.
Tesla follows other major Consumer Cyclical sector earnings this month
On Thursday, June 27, 2019, Nike reported fourth quarter EPS of $0.62 on revenue of $10.18B, compared to forecasts of EPS of $0.66 on revenue of $10.16B.
Ford Motor earnings missed analyst's expectations on Wednesday, with second quarter EPS of $0.28 on revenue of $35.76B. Investing.com analysts expected EPS of $0.31 on revenue of $38.46B
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