Tesla beats Q2 earnings estimates

Yahoo Fiannce's Dan Howley breaks down Tesla's Q2 earnings.

Video Transcript

ALEXIS CHRISTOFOROUS: We have been waiting for the earnings. He has got the numbers for us. What can you tell us, Dan?

DAN HOWLEY: For Q2 revenue, we're looking at $11.96 billion. That's compared to the $11.37 billion that was expected, so a beat there. And then a beat on adjusted earnings per share, $1.45 compared to $0.97 that was expected. The company says they still expect to see 50% annual growth in deliveries. They also said they're shifting the launch of their semi, that Tesla semi, to 2022.

They also saw a Bitcoin impairment of $23 million. You'll remember that they were dabbling in Bitcoin for a minute there before pulling back from that. They also, though, said that they'll launch their first Model Y, built in both Berlin and Austin, this year in 2021. So that's a big deal. You know, Tesla's had a big quarter. Obviously, they were running into some issues with the voluntary recalls in China there. But really, a good quarter from there on this announcement.