Tesla Earnings: Strong Results and an Optimistic Outlook

Tesla's (NASDAQ: TSLA) second-quarter earnings release on Wednesday was arguably the most anticipated report this earnings season. Shares have soared from around $260 a year ago to above $1,500 going into the company's second-quarter update. This made Tesla the most valuable automotive company in the world, with a market capitalization of nearly $300 billion. Expectations were high, to say the least. 

But could Tesla live up to the hype? Apparently so. Revenue and earnings per share soared past analyst estimates as the company posted its fourth consecutive quarter of profitability, making the stock eligible to be added to the S&P 500 index. Shares jumped more than 5% in after-hours trading on Wednesday, following the update.

A Tesla Model 3. Image source: Tesla.

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Source Fool.com