Tesla Inc (NASDAQ: TSLA) shares are backing up Thursday morning on the heels of the EV company’s second-quarter financial results. Several analysts are out with updates following the print.
What Happened: Tesla said second-quarter revenue increased 47% year-over-year to $24.93 billion, which beat the consensus estimate of $24.48 billion, according to Benzinga Pro. The company reported quarterly earnings of 91 cents per share, which beat estimates of 82 cents per share.
Operating margins in the second quarter were 9.6%, while gross margins came in at 18.2%. Gross margins were down from 25% year-over-year. Analysts and investors were watching closely for margin results given the recent price cuts.
Despite the lower margins, the …
