Tesla shares rally 9.43% after better-than-expected 2Q22 results

Tesla advanced 9.43% on the Nasdaq this Thursday morning, its highest intraday growth since January, after yesterday it presented financial results that were better than expected and that Elon Musk said the company is poised for an “unprecedented” second half of the year.

Shares of the electric car company were trading at $812.53 each around 12:00 noon (Central Mexico time), their highest level in two months.

the maker of electric cars led gains in the S&P 500 on the day, which was up 0.56% to 3,983.12.

Tesla shares surged outperforming the Nasdaq 100 Index, which rose 0.95% to 12,010.05 points.

Yesterday, Tesla announced that it had a net profit of 2,259 million dollars from April to June, exceeding the 1,900 million dollars expected by the market, although the figure meant a quarterly drop of 31.92 percent.

The company led by Elon Musk explained that its results were pressured due to a drop in production due to closures in its Shanghai plant due to the Covid-19 lockdowns.

It reported having delivered 254,695 electric vehicles in the period, 55,353 less than in January-March 2022, with which it had its first quarterly drop in car deliveries since 2020.

Despite the difficulties that the company had, Musk, CEO and founder of the company, stressed that Tesla had record production in June, so “we have the potential for an unprecedented second half of the year.”

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