- Its revenue rose from US$6.04 billion to US$11.96 billion YoY.
- TSLA stock closed at 1.63% higher in extended trading.
- Koninklijke Philips’ (NYSE: PHG) sales rose by 9% to US$4.9 billion in Q2.
Electric carmaker Tesla Inc on Monday reported a whopping 98% YoY revenue growth in Q2 boosted by record vehicle deliveries, while global conglomerate Phillips posted a 9% sales growth to US$4.9 billion during the period.
TSLA stock closed at 1.63% higher in extended trading after robust results. The PHG stock, though, fell by 3.75% after it said income from operations dropped.
Despite a shortage of raw materials, Tesla managed to beat Wall Street expectations. The company said it will start production of the Model Y SUV this year but will delay the semi-truck launch until 2022.
Tesla’s cheaper models, such as Model 3 and Model Y crossovers, have majorly contributed to revenue growth during the quarter.
Its revenue rose from US$6.04 billion to US$11.96 billion YoY. Analysts had forecast around US$11.3 billion in revenue, according to Refinitiv. It logged a profit of US$1.45 per share, beating analysts’ expectations of 98 cents apiece.
The GAAP net income was US$1.14 billion, while revenue from credits was US$354 million. It also reported a loss of US$23 million in bitcoin investment.
Tesla has a market cap of US$635 billion. Its P/E ratio is 659.32, and the forward P/E one-year is 246.51. The beta is 1.99.
The stock’s 52-week highest and lowest price was US$900.40 and US$273, respectively.
Philips’ Q2 earnings
Adjusted EBITDA rose to US$628 million, up 12.4 percent YoY. Operating cash flow was US$392 million compared to US$526 million in Q2 of 2020. Its liquidity reserves were US$197 million in Q2.
Phillips’ market cap is around US$41.9 billion. The P/E ratio is 30.26, the forward P/E one year is 21.03, and the EPS is US$1.52. It pays an annual dividend of US$0.879. The current yield is 1.83 percent, and the beta is 0.8.
Its 52-week highest and lowest stock price is US$61.23 and US$44.24, respectively.
Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.