Tesla just released its Q1 2023 earnings report and the numbers are solid. Tesla again turned a profit, which makes that fourteen quarters in a row in which Tesla has reported a profit. Tesla basically met expectations last quarter.$ 0.85 profit per share ~ $0.85 to $0.94 per shareAs you can see, Tesla met the profit expectations but fell a bit short in regard to revenue.
However, in regard to gross margins, Tesla reported that at 19.3%, which means that despite aggressive price cuts, Tesla maintains a strong margin. Tesla states: Although we implemented price reductions on many vehicle models across regions in the first quarter, our operating margins reduced at a manageable rate. We expect ongoing cost reduction of our vehicles, including improved production efficiency at our newest factories and lower logistics costs, and remain focused on operating leverage as we scale.
Tesla also says that it pricing will evolve over time and could trend either upward or downward, so expect more price adjustments in the future.. At 422,875 global deliveries of the Model Y, Model 3, Model S and Model X combined, Tesla beat expectations and set a new all-time delivery record.More information to follow from details released on the conference call later today.
Lol
Shame about the terrible quality of the cars tho.
Tesla makes less than Stellantis trading at $18/share. InsideEV disgrace secured.
Defund Tesla
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