Tesla Q2 2023 Earnings Report
Key Takeaways
Tesla's Q2 2023 was a record quarter with best-ever production and deliveries. Revenue approached $25B. Operating margin remained healthy at approximately 10%, reflecting cost reduction efforts and strong performance of Energy and Services & Other businesses.
Q2 2023 was a record quarter with best-ever production and deliveries.
Revenue approached $25B in a single quarter.
Operating margin remained healthy at approximately 10%, even with price reductions in Q1 and early Q2.
Commitment to being at the forefront of AI development entered a new chapter with the start of production of Dojo training computers.
Tesla
Tesla
Tesla Revenue by Segment
Forward Guidance
Tesla plans to grow production as quickly as possible in alignment with the 50% CAGR target. For 2023, they expect to remain ahead of the long-term 50% CAGR with around 1.8 million vehicles for the year. Cybertruck remains on track to begin initial production later this year at Gigafactory Texas.
Positive Outlook
- Planning to grow production as quickly as possible in alignment with the 50% CAGR target.
- Expect to remain ahead of the long-term 50% CAGR with around 1.8 million vehicles for the year.
- Ample liquidity to fund product roadmap, long-term capacity expansion plans and other expenses.
- Will manage the business such that they maintain a strong balance sheet during this uncertain period.
- Cybertruck remains on track to begin initial production later this year at Gigafactory Texas.
Challenges Ahead
- Uncertainties in future macroeconomic and regulatory conditions arising from the current global pandemic.
- Risk of delays in launching and manufacturing products and features cost-effectively.
- Consumers’ demand for electric vehicles generally and our vehicles specifically.
- The ability of suppliers to deliver components according to schedules, prices, quality and volumes acceptable.
- Risks relating to international expansion.
Revenue & Expenses
Visualization of income flow from segment revenue to net income