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Jun 30, 2023
Tesla Q2 2023 Earnings Report
Tesla achieved record production and deliveries, with revenue approaching $25B.
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.
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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