Tesla’s revenue surge by record 98% in Q2, Phillips’ sales up 9%

July 26, 2021 04:48 PM PDT | By Team Kalkine Media
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  • 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.

Also read: Square, Paypal stocks on investors' radar ahead of Q2 earnings.

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.

Source: Pixabay.

Also read: Lockheed’s net sales are up 5%, Lennox’s revenue jumps 32% in Q2

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.


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