Tesla's 'Goldilocks' Quarter: 'Chess,' Not Checkers In Electric Vehicles Competition
Portfolio Pulse from Benzinga Staff
Tesla Inc. reported its Q2 financial results, with revenue reaching $24.93 billion, a 47% increase YoY, beating the consensus estimate of $24.48 billion. The company also highlighted progress on the Cybertruck and the 4680 Cell’s production. Reactions to the report were generally positive, with analysts noting Tesla's strategic outperformance of other EV players. However, some pointed out that the earnings beat was primarily driven by a $400 million swing in 'Other Income', and operating income was down 3% YoY and 10% QoQ.
July 19, 2023 | 11:56 pm
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Tesla's Q2 results beat estimates, with a 47% YoY increase in revenue. The company also made progress on the Cybertruck and the 4680 Cell’s production. However, some analysts pointed out that the earnings beat was primarily driven by a $400 million swing in 'Other Income'.
Tesla's Q2 results exceeded expectations, which is generally positive for the stock. However, the fact that the earnings beat was primarily driven by 'Other Income' rather than core operations could be a concern for some investors, potentially limiting the positive impact on the stock.
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