Company News: Tesla (TSLA) reports surprise quarterly profit

Market news

30 April 2020

Company News: Tesla (TSLA) reports surprise quarterly profit

Tesla (TSLA) reported Q1 FY 2020 earnings of $1.24 per share (versus -$2.90 per share in Q1 FY 2019), better than analysts' consensus estimate of -$0.21 per share.

The company's quarterly revenues amounted to $5.985 bln (+31.8% y/y), beating analysts' consensus estimate of $5.853 bln.

The company also noted that its near-term guidance of net income and free cash flow would likely be inaccurate due to the wide range of potential outcomes. It promised to again revisit its FY 2020 guidance in Q2 update.

TSLA rose to $869.25 (+8.59%) in pre-market trading.

EUR/JPY: Second fiddle - Rabobank

AUD/USD: Moving higher after breaking above a key cluster of resistances - Credit Suisse

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