LIVE BLOG: Tesla (TSLA) Q2 2020 earnings call summary

Tesla’s (NASDAQ:TSLA) second-quarter earnings call comes on the heels of an impressive quarter that saw the electric car maker posting $6.036 billion in revenue and a $451 million non-GAAP net income, beating Wall Street’s estimates.

As revealed in the company’s Q2 2020 Update Letter, Tesla currently sits on $8.6 billion in cash. The Tesla Model Y ramp is also proving faster than the Model 3 ramp, which should allow the company to increase its output at the Fremont factory in the coming quarters. Tesla Energy had some milestones as well, with the Megapack being profitable and Solar Roof installations tripling in Q2 compared to Q1.

For today’s earnings call, Tesla executives are expected to address questions surrounding the company’s plans for the coming quarters, particularly its maintained guidance of 500,000 vehicle deliveries for the year. Updates on future projects such as the Cybertruck, Semi, and Roadster may also be mentioned, as well as more details on upcoming Gigafactories, particularly in the United States.

The following are live updates from Tesla’s Q2 2020 earnings call. I will be updating this article in real-time, so please keep refreshing the page to view the latest updates on this story. The first entry starts at the bottom of the page.

14:20 PT: It is time once more for Tesla’s quarterly earnings report! This quarter was pretty crazy, with Fremont being closed for several weeks and a lot of drama resulting from its reopening. Despite all these headwinds, Tesla posted a profit for Q2. That’s pretty insane, especially since the company was able to accomplish this during a literal pandemic. The Q2 2020 Update Letter is full of interesting details. Let’s brace for impact, everyone.

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