Tesla Beats on Earnings, but Price Cuts Weigh on Margins

Bloomberg2023-07-20

Carmaker missed on margins while beating earnings estimatesElon Musk-led Tesla is pouring money into AI, new CybertruckTesla Inc.’s profitability shrank in the second quarter, showing the electric-...

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Comments

SudTradepro
2023-07-20
SudTradepro
Bloodbath starts and greed starting to bite NASDAQ stocks. 10-15% correction soon
Nilly
2023-07-20
Nilly
Ok
romanc9
2023-07-20
romanc9
Shortist taking an excuse to sell down. Making those with weak hands to push the px down further. See no reason since the results is so healthy. Even with price cut still make decent profit in this difficult time. I think it will move north after afew days of short sell..
Andrewinho
2023-07-20
Andrewinho
Opportunity is here!! 👏👏👏

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Still, Tesla beat earnings and revenue expectations. Its profit, excluding some items, came to 91 cents a share, more than the 81 cents analysts estimated.Tesla already said it delivered a record 466,140 cars in the period, spurred on by the price reductions that began earlier this year — a response to tighter household budgets and a wave of new EV competitors. Revenue rose 47% to $24.9 billion, Tesla said in a shareholder letter. Analysts had expected the company to generate $24.5 billion in sales.That’s put the Austin-based carmaker’s profits in tight focus, especially as it pours money into the development of full self-driving software and its first new product in years, the Cybertruck. 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The company said global inventory is now 16 days of supply, up from 15 days last quarter and four days a year ago.The company has has offered customers special perks — like free charging — to move vehicles off the lots.Analysts have said new models, like the Cybertruck, could help Tesla maintain its extraordinary sales-growth rate. However, the long-awaited truck likely won’t be available in large volumes until next year. 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Making those with weak hands to push the px&nbsp;down further.&nbsp; See no reason since the results is so healthy. Even with price cut still make decent profit in this difficult time.&nbsp; I think it will move north after afew days of short sell..&nbsp;","listText":"Shortist&nbsp;taking an excuse to sell down. Making those with weak hands to push the px&nbsp;down further.&nbsp; See no reason since the results is so healthy. Even with price cut still make decent profit in this difficult time.&nbsp; I think it will move north after afew days of short sell..&nbsp;","text":"Shortist taking an excuse to sell down. Making those with weak hands to push the px down further. See no reason since the results is so healthy. Even with price cut still make decent profit in this difficult time. I think it will move north after afew days of short sell..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":15,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/199758069579832","repostId":1192140521,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":199740448174240,"gmtCreate":1689806515581,"gmtModify":1689806518765,"author":{"id":"3581563418944392","authorId":"3581563418944392","name":"Andrewinho","avatar":"https://static.tigerbbs.com/3127e2bc40ab23064a5187a00a63e19b","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Opportunity is here!! 👏👏👏","listText":"Opportunity is here!! 👏👏👏","text":"Opportunity is here!! 👏👏👏","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":14,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/199740448174240","repostId":1192140521,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":70,"commentSize":0,"repostSize":3,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.5","shortVersion":"4.22.5","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1192140521"}