Tesla just released its Q2 2023 earnings report and the numbers are solid. Tesla again turned a profit, which makes that fifteen quarters in a row in which Tesla has reported a profit. Tesla even managed to beat expectations last quarter.
The main financial details from the Q2 2023 report are as follows:
- $ 24.93 billion in revenue
- $ 0.91 profit per share (Non-GAAP)
And here’s what Tesla was expected to report, according to analysts.
- Profit per share: ~ $0.80 to $0.87 per share
- Revenue: ~ $24.22 billion to $22.83 billion
As you can see, Tesla beat both profit and revenue expectations.
Tesla states:
Q2-2023 was a record quarter on many levels with our best-ever
production and deliveries and revenue approaching $25B in a single
quarter. We are excited that we were able to achieve such results given
the macroeconomic environment we are currently in.
Tesla added a comment specifically related to its pricing strategy too and margins:
Our operating margin remained healthy at approximately 10%, even with
price reductions in Q1 and early Q2. This reflects our ongoing cost
reduction efforts, the continued production ramp success in Berlin and
Texas and the strong performance of our Energy and Services & Other
businesses.
Tesla also says that its pricing will evolve over time and could trend either upward or downward, so expect more price adjustments in the future.
Tesla adds that the Cybertruck factory tooling is on time and mentions that a next-generation platform is in development.
And here’s a look at the financial summary:
Tesla previously announced its Q2 2023 production and delivery figures. At 466,140 global deliveries of the Model Y, Model 3, Model S and Model X combined, Tesla beat expectations and set a new all-time delivery record.
You’ll find Tesla’s release in its entirety linked below.
More information to follow from details released on the conference call later today.
