Tesla shares jump on second-quarter report that was better than feared


Pedestrians walk through a street crossing in front of the American electric company car Tesla Motors official authorized car dealer store in Hong Kong, July 13, 2022.

Budrul Chukrut | SOPA Images | Lightrocket | Getty Images

Shares of Tesla jumped nearly 10% on Thursday, one day after the electric car maker released second-quarter results that were better than analysts feared.

Tesla reported Wednesday after the bell that its quarterly adjusted earnings per share were $2.27, higher than the $1.81 expected, according to Refinitiv. While the company’s revenues grew by 42% on a year-over-year basis, automotive margins declined due to inflation and increased competition for electric vehicle…


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