Tesla‘s better-than-expected delivery numbers may buy the electric auto maker time, but they’re not a quick fix for more fundamental issues, Roger McNamee told CNBC on Wednesday.
“This quarter doesn’t solve anything, but it’s way better than what people were expecting,” said McNamee, a venture capitalist turned Silicon Valley critic.
Tesla shattered Wall Street’s expectations with its second quarter delivery and production results. The company said after the bell Tuesday that it delivered 95,200 vehicles, a 51.1% increase over its first quarter results.
Shares of Tesla rose about 5% Wednesday.
“As an analyst, I don’t think we know enough yet, but this is so much better than what we were thinking just a few weeks ago,” McNamee said in a “Squawk on the Street ” interview.
“These are obviously fantastic numbers,” said McNamee. “After the March quarter, there were legitimate concerns about demand and, essentially, the viability of Tesla.”
But McNamee warned the company needs to become…