Tesla Q2 Earnings Highlights: Revenue Beat, EPS Miss, Robotaxi Update, 2024 Growth Rate To Be 'Notably Lower' Than 2023
Portfolio Pulse from Chris Katje
Tesla Inc (NASDAQ:TSLA) reported Q2 revenue of $25.5 billion, beating estimates, but missed EPS expectations with 52 cents per share. Vehicle deliveries and production were down year-over-year. The company highlighted growth in its Tesla Energy segment and Cybertruck deliveries. Tesla anticipates a lower vehicle growth rate in 2024 as it focuses on new products and cost reductions.

July 23, 2024 | 8:31 pm
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Tesla reported Q2 revenue of $25.5 billion, beating estimates, but missed EPS expectations with 52 cents per share. Vehicle deliveries and production were down year-over-year. The company highlighted growth in its Tesla Energy segment and Cybertruck deliveries. Tesla anticipates a lower vehicle growth rate in 2024 as it focuses on new products and cost reductions.
While Tesla's revenue beat expectations, the EPS miss and year-over-year decline in vehicle deliveries and production are concerning. The company's focus on new products and cost reductions, along with a lower anticipated growth rate in 2024, adds uncertainty. However, growth in the Tesla Energy segment and Cybertruck deliveries are positive signs. The mixed results and forward-looking statements suggest a neutral short-term impact on the stock price.
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