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Tesla pulled in $858 million in revenue for Q2, shipped 7,579 vehicles

Tesla Motors saw Q2 pass it with non-GAAP revenues of $858 million, sold 7,579 cars (NASDAQ:TSLA)

| Business, Financial & Legal News | Posted: Aug 1, 2014 8:32 am

Tesla Motors has reported its Q2 2014 results, which saw the electric car maker pull in non-GAAP revenue of $858 million, and non-GAAP earnings per share of $0.11. The non-GAAP revenue is up a huge 55% from the same period of last year.

 

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The company delivered 7,579 vehicles in the three-month period, building a total of 8,763 vehicles in that time. Tesla has said that it is "on track" to deliver over 35,000 vehicles for the whole of 2014. Analysts had expected Tesla to report non-GAAP revenue of $810.61 million, so Tesla just edged out those expectations for the quarter. Shifting to normal accounting metrics, which are much easier to understand, Tesla Motors had revenue of $769 million for the quarter, losing $0.50 per share.

 

Moving into Q3, Tesla expects to build around 9,000 vehicles for the three-month period. The company expects to reach 10,000 vehicles per year on a run-rate basis by the end of 2014, which would see revenue growth expand for 2015.

NEWS SOURCES:Techcrunch.com

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