Tesla up 4.5% premarket after beating Q2 estimates

Thursday, 23. July 2020 12:07

Shares of American giant Tesla Inc. surged more than 4.5% in the premarket on Thursday, shortly after the carmaker posted better-than-expected earnings for the second quarter of 2020.

The company's revenue yearly slipped 4.9% to $6.04 billion, while diluted EPS surged to $0.5 and net income rose to $104 million in the second trimester. Meanwhile, Chief Executive Elon Musk announced the carmaker will build its next Gigafactory in Austin, Texas.

Tesla's stocks jumped 4.69% in the premarket trade to sell for $1,667 per share at 6:04 am ET.

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