Tesla Q2 deliveries boost forecasts as analysts turn to robotaxi and Optimus

Tesla reported second‑quarter deliveries of 480,126 vehicles, well above the roughly 400,000 units analysts had expected. The stronger output helped analysts lift their earnings per‑share forecast to $0.50 and raise revenue expectations by about 9%, prompting a modest 8% rise in the stock before the earnings release, though the share price fell about 7.5% on the report day.

Investors are increasingly valuing Tesla less on raw delivery numbers and more on progress with its future projects. UBS highlighted that the market’s focus has shifted toward the company’s robotaxi ambitions and the development of the humanoid robot Optimus, noting slower‑than‑expected advances in robotaxi testing and a pending Optimus V3 demo. While the vehicle business continues to fund cash flow, the perceived success of these AI‑driven initiatives is now a key driver of Tesla’s valuation.

Tesla also posted production of 451,758 units and a reduction in inventories, with its energy storage segment adding 13.5 GWh during the quarter, underscoring growth beyond automotive sales.