Tesla published financial report for the second quarter of 2023, many of whose indicators were well above analysts’ expectations.
For example, revenue for the reporting period grew by 45% compared to the same period in 2022 and amounted to a record $24.9 billion instead of the projected $24.47 billion. Earnings per share – $0.91 compared to the expected $0.82. Finally, net income rose 20% compared to the same period in 2022 to $2.7 billion.
To achieve such success, Elon Musk’s company was helped by lower prices for many models and a number of profitable offers. This led to an increase in sales of electric vehicles, but “hit” some important indicators for shareholders.
Let’s say the gross margin was 18.2% instead of the projected 18.8%. In the first quarter of 2023, the figure was 19.3%, and in the fourth quarter of 2022 – 24%. Operating profitability decreased by 5% year-on-year, amounting to 9.6%. As a result, the share price fell by 6%.
By the way, Elon Musk’s biographer just published early Tesla Cybertruck concepts.
2023-07-21 09:23:48
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