Tesla sales jump 26% as revenue reaches $28.2 billion

• Tesla reported second-quarter revenue of $28.2 billion, up 26%, but adjusted EPS of $0.33 missed analyst expectations.
• Tesla shares were down 1.3% at $374.17 in the latest after-hours trading following the results.
• Tesla attributed the revenue increase to record second-quarter vehicle deliveries and renewed growth in energy storage.

Tesla (NASDAQ:TSLA) reported second-quarter revenue of $28.2 billion, up 26%, while net income fell 5% to $1.1 billion.

Revenue exceeded Tesla’s company-compiled consensus of $27.58 billion, but adjusted EPS of $0.33 missed the $0.55 average estimate.

Diluted GAAP EPS fell 3% to $0.32, while gross profit increased 23% to $4.7 billion and operating profit reached $398 million.

Tesla delivered 480,126 vehicles and deployed 13.5 GWh of energy-storage products during the quarter, supporting the higher revenue result.

Following the announcement, Tesla share price was down 1.3% at $374.17 in the latest after-hours trading.

Tesla said its trailing 12-month revenue exceeded $100 billion for the first time, supported by growth in new and established vehicle markets.

The company said its energy-storage business returned to growth, while second-quarter vehicle deliveries increased to a company record for the period.