Investor's Corner
Recap: Tesla first-quarter results; Model X on its way
Tesla first quarter earnings beat the estimates of stock analysts, who expected a loss of 50 cents a share. The actual loss was only 36 cents a share.
Tesla first-quarter results topped analysts expectations sending shares into positive territory during after-hours trading. The company announced a first-quarter loss of $45 million on revenue of $1.1 billion, which amounts to 36 cents a share on an adjusted basis. That compares to a loss of $50 million, or 40 cents a share, in the first quarter of 2014. Analysts had told investors to expect a loss of 50 cents a share.
On an unadjusted basis, the loss was $1.22 per share. Tesla said the loss includes $22 million, or 17 cents a share, in unrealized losses from foreign currency holdings due to the strong dollar.
The company is experiencing “growing” demand for its Model S electric sedan, according to a report in USA Today. Tesla delivered 10,045 cars during the first quarter and predicted it would produce another 12,500 cars in the second quarter.
The company assured analysts on Wednesday that it was on pace to deliver the expected 55,000 units this year. That number includes sales of both the Model S sedan and the upcoming Model X crossover which is said to begin deliveries starting in the third quarter.
Tesla shares closed at $230.43, down $2.52 or 1.08%, before the earnings report but rose 2.7% in after-hours trading to $236.70. In an exclusive interview with Teslarati, business strategist and Tesla owner Daniel Sparks (@DanielSparks) told us:
“Overall, the quarter was great. The key takeaway was Tesla’s ability to simultaneously maintain so many future growth plans, e.g. maintaining guidance for 55,000 vehicle deliveries in 2015 (up 74% from 2014 deliveries), planning to begin battery cell and pack production in the Gigafactory (which is currently under construction) by next year, expecting to let customers configure Model X by July, and planning to show off the Model 3 (for the first time) in March, 2016.
As shortsighted market watchers focus on near-term financial figures, long-term buy-and-hold Tesla investors know the company is a forward-looking growth story. And when viewed at the 10,000-foot level, Tesla is grade A.”
Perhaps the best news for stockholders was the announcement on April 30 that Tesla will begin selling its Powerwall batteries for residential use, together with its larger PowerPack batteries for commercial and grid scale energy storage, later this year.
Tesla’s Powerwall Home Battery will allow households to to go off the grid by charging via photovoltaic solar panels from SolarCity. Source: SolarCity
Elon Musk told analysts during the conference call that demand for the stationary batteries has been so “crazy” that the company is considering expanding its Gigafactory outside Reno to meet the demand. He said the company already has 38,000 reservations for the home wall unit and 2,500 from large industrial companies or utilities.
“The sheer volume of demand here is staggering,” said Musk. In fact, the Gigafactory could be kept completely busy just building stationary use batteries, the demand is so great.
ALSO SEE >>> Cost benefit analysis of owning the Tesla Powerwall.
Investor's Corner
Tesla crushes Wall Street expectations, beats delivery estimates by over 15 percent
Tesla (NASDAQ: TSLA) beat Wall Street expectations of 406,000 vehicles delivered in Q2 by reporting 480,126 deliveries for the three months ending in June.
Tesla reported it delivered 467,762 Model 3 and Model Y units, while 12,364 Model S, Model X, and Cybertrucks switched hands during the quarter. The Model S and Model X were officially sunset this past quarter and will no longer be part of the company’s Production & Delivery reports moving forward.
🚨 BREAKING: Tesla delivered 480,126 vehicles in Q2, ANNIHILATING Wall Street expectations of 406,000. Production was reported at 451,758.
Deliveries:
Model 3/Y: 467,762
Other Models: 12,364Production:
Model 3/Y: 442,936
Other Models: 8,822 https://t.co/TTHwQAsKt8 pic.twitter.com/7qI4Zj6FE5— TESLARATI (@Teslarati) July 2, 2026
The quarter is a pleasant surprise and a good rebound from Q1, when Tesla slightly missed the Wall Street consensus of 365,645 cars by reporting 358,023 deliveries for the first three motnhs of the year.
Energy storage deployments also provided some strength in Tesla’s delivery report, hitting 13.5 GWh for Q2. This is a particular division of Tesla’s business that has been overwhelmingly robust over the past few years, truly being a strong point of the company’s overall model.
For the year, Tesla analysts still predict deliveries to trend in the 1.69 million unit region, a modest 3 to 5 percent increase from the 1.64 million cars the company delivered last year. Tesla will likely return to more sequential and noticeable year-over-year growth as the Cybercab project starts to ramp up considerably in the next few years.
Tesla has some other potential catalysts to spur vehicle deliveries, too. Not only is it expecting Cybercab to truly start making a change in the next few years, but other vehicles could be entering the company’s lineup.
Tesla sends production Cybercab with no steering wheel, pedals to on-road testing
The slightly longer Model Y L has been a highly speculated release candidate in the U.S. It has already done incredibly well in China, and U.S. buyers have been wanting slightly more interior space than the Model Y. Now that the Model X is gone, it is more needed than ever.
Q2 highlights a pretty stable automotive division within Tesla, and no true concerns arise from these figures, especially considering it managed to beat expectations convincingly.
Investor's Corner
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
Tesla short seller Michael Burry, the subject of the film “The Big Short,” where he was portrayed by Steve Carell, has revealed he has opened a new bet against the stock.
In a new update to his Substack newsletter in a post titled “Trading Post June 30, 2026,” Burry revealed a new set of bets against Tesla, Caterpillar, NVIDIA, Applied Materials Inc., and the iShares Semiconductor ETF.
In regard to Tesla, Burry wrote:
“And finally I shorted Tesla at 416.22. Happy it jumped back to this level.”
This means Burry likely opened his new short position after the company’s recent rally on Wall Street, which saw Tesla shares sink in mid-May, only to recover to well over the $400 mark. Currently, shares trade at around $427.
The company saw a big Tuesday as shares climbed considerably, over 10 percent. The size of the Tesla short was not provided, nor did Burry give any information on the position’s structure, the number of shares, dollar value, or whether options were used in the short.
The Tesla and SpaceX merger everyone is talking about is quietly building
Over the years, Burry has been one of the more vocal critics of Tesla, calling its share price “media inflated,” and saying it was “ridiculously overvalued” as recently as December.
The company has largely transitioned away from being known as an automotive company and instead is much more widely regarded as an AI play, mostly due to its Full Self-Driving efforts, Optimus robot development, and data collection related to both.
This has not pulled those skeptics away from being vocal about their distaste for how Tesla is valued, but there’s no denying that the company is a global force in many things, including sustainable energy, automotive, and AI.
Wedbush Securities is initiating stock coverage on SpaceX (NASDAQ: SPCX), marking the first comments on the company since it went public several weeks ago. Wedbush and its analyst handling coverage, Dan Ives, are widely bullish on fellow Musk company Tesla (NASDAQ: TSLA).
Ives wrote his first note initiating coverage of SpaceX shares on Wednesday with a $190 price target and an ‘Outperform’ rating. The firm believes the company is well positioned off of its IPO because of its wide array of projects, including AI compute power and infrastructure, connectivity projects, and launches.
“We view SpaceX as one of the most differentiated assets within the tech market with a strong footprint across its three core markets, with Starlink driving success with connectivity,” Ives wrote, “Starship launches leading to a demand flywheel and increasing deal flow for its Colossus clusters.”
Elon Musk called it Epic: The full story of SpaceX’s Starship Flight 12
Wedbush leans heavily on Starlink, which they say is the “profitability driver given the strength of its recurring revenue base of ~12 million subscribers as of June 5th.” Ives believes Starlink is still in the “early innings” of penetrating the global telecommunications and broadband market, as it only holds less than a 1 percent share. However, this number is sure to increase over time.
It also highlights the importance of Starship, which it says is an “essential layer” of SpaceX’s overall success. SpaceX developing and displaying the ability to reuse rockets is a major cost and reliability advantage “as it reduces the necessary hardware launch costs while generating a feedback loop for future flights to improve their launch flight rate without accelerating capex spend.”
Finally, SpaceX’s recent AI/Compute projects are also very elementary, Ives writes. It is worth mentioning Wedbush said its $190 price target is derived from a valuation forecast that sees the company yielding roughly $2.48 trillion of implied enterprise value.
There are also some factors that Wedbush did not take into account with its initial coverage. The firm wrote in the note:
“We note that there is optional value coming from Starship’s accelerating scale towards sub-$200/kg unit economics, orbital data centers, and enterprise AI monetization as these factors could drive meaningful upside but these face major hurdles, so we do not take that into account with our valuation.”
SpaceX shares are down just over 2 percent today, trading at around $167 at the time of publication.
Tesla crushes Wall Street expectations, beats delivery estimates by over 15 percent
Tesla Optimus project fires up as Musk sees production line progress
