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Tesla Poised for Earnings Hit From China Factory Shutdown

Tesla Inc. TSLA 2.07%▲ is expected to report its first sequential decline in quarterly profit in more than a year as it recovers from an extended shutdown at its Shanghai assembly plant.

Covid-19-related restrictions in China and ongoing supply-chain disruptions limited the company’s second-quarter production, which tumbled 15% from the first three months of the year.

Tesla, after market close, is expected to report second-quarter sales of around $16.5 billion, analysts estimate. That’s up from roughly $12 billion during the same period last year, though below the company’s $18.8 billion in first-quarter revenue.

Read More on The Wall Street Journal