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Tesla Posts Record Deliveries in Q2 2019, But Still Lost £327 Million

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George Mitchell
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The company produced about 87,000 cars in the quarter and shipped some 95,200 of them throughout the quarter, per the Verge, and generated about $6.3 billion (£5bn) in revenue.

Tesla also said it ended the quarter with $5 billion (£4bn) in cash, more than at any point in its history, and as the New York Times noted, the 95,200 shipped cars are a 50 per cent increase from the prior quarter.

However, the Times wrote that the showing was still under analyst expectations, resulting in the stock drop:

The second-quarter loss amounted to $2.31 per share.

Before the earnings report, the stock had closed at $264.88, up 1.8 per cent.

As the Times noted, Tesla is spending heavily on a Model 3 plant in China and fuelled the record deliveries in part by slashing prices.

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George Mitchell
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