Tesla's second-quarter earnings report beat expectations behind strong sales of its high-end Model S and Model X vehicles, easing concerns that its lower-priced forthcoming Model 3 would cannibalize customers and lower revenue, per CNBC.
By the numbers: The company notched an adjusted loss of $1.33 per share — much better than the $1.82 loss per share expected by analysts. It also increased its vehicle deliveries by 53% over last year, though its net loss increased to $336 million.
