Investing.com - Tesla reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Tesla announced earnings per share of $-0.14 on revenue of $5.44B. Analysts polled by Investing.com anticipated EPS of $-0.34 on revenue of $5.88B. That with comparison to EPS of $-2.9 on revenue of $4.54B in the same period a year before.Tesla had reported EPS of $2.14 on revenue of $7.38B in the previous quarter.Analysts are expecting EPS of $-0.53 and revenue of $6.34B in the upcoming quarter.
Tesla shares are up 73% from the beginning of the year and are trading at $725.24 , down-from-52-week-high.They are outperforming the Nasdaq which is down 6.68% year to date.
Tesla shares gained 11.46% in intra-day trade the report.
Tesla follows other major Consumer Cyclical sector earnings this month
Tesla's report follows an earnings missed by Nike on Tuesday, March 24, 2020, who reported EPS of $0.53 on revenue of $10.1B, compared to forecasts EPS of $0.59 on revenue of $9.81B.
Volkswagen Pref ADR had beat expectations on Tuesday, March 17, 2020 with first quarter EPS of $57.76 on revenue of $71.85B, compared to forecast for EPS of $0.63 on revenue of $66.41B.
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