Unfortunately the estimate was for a loss of $0.52… Tesla TSLA 388.04 -22.79 -5.55% reported a loss of $1.12 per share on revenue of $6.3 billion(also missed revenue estimate of $6.4 billion). Revenue did grow by almost 60%.
The totally believable shareholder letter said the company expects positive GAAP earnings in the 3rd quarter, consensus estimates are for $0.27 per share. I imagine that number may lower as analysts try to guess what next quarter may bring.
The shareholder letter also put a decent amount of exceptions in it’s future projections.
…we expect positive quarterly free cash flow, with possible temporary exceptions, particularly around the launch and ramp of new products.
I would think a company would know if they were going to launch and ramp new products within the next three months.
Aim for positive GAAP net income in Q3… …although continuous volume growth, capacity, expansion and cash generation will remain the main focus.