Tesla (TSLA) released its financial results and shareholders letter for the second quarter of 2023 after market close today.
We are updating this post with all the details from the financial results, shareholders’ letter, and the conference call later tonight. Refresh for the latest information.
Expectations for Tesla’s Q2 2023 results were released by Tesla (TSLA).
The Wall Street consensus for this quarter was $24.220 billion in revenue and $0.80 in profits per share, as we noted in our Tesla Q2 2023 earnings preview earlier today.
While Wall Street’s forecast of revenue should be fairly accurate because it is primarily based on vehicle deliveries, which have previously been revealed, earnings are more difficult to predict.
It depends on how well Tesla has managed to keep gross margins strong despite the big price reductions that occurred throughout the quarter.
Tesla Q2 2023 financial results
Tesla announced its financial results shortly after the market closed today, and it was confirmed that it met forecasts with earnings of $0.91 per share (non-GAAP) and on revenue of $24.927 billion during the previous quarter.
As anticipated, gross margins are declining, although only to 18.2% from 19.3% in the prior quarter.
Tesla managed to increase its cash and investment position by nearly $700 million, bringing it to an outstanding $23 billion, while maintaining a solid operating margin of 9.6%.
To elaborate on the key points from the earnings report and conference call, we will post our follow-up pieces below (refresh the page to view the most recent posts):
