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Tesla Motors Reports Record Earnings, Guides 3Q Down

Tesla Motors

Tesla Motors [NASDAQ:TSLA] today reported their earnings for the second quarter of 2014, beating many analysts expectations by delivering a record 7,579 Model S vehicles in the quarter as well as producing a record 8,763 Model S vehicles in the quarter. Non-GAAP earnings were $16 million dollars (broken down to $0.11 EPS), while GAAP earnings (loss) was a loss of $62 million or a loss of $0.50 cents per share. Tesla Motors also cautioned that they expect the third quarter revenue and overall production to be lower than initially expected due to the retooling of the Fremont NUMMI plant for higher volume Model S and new