Saturday, April 13, 2024
HomeBlogTesla (TSLA) Q3 2023 earnings outcomes:

Tesla (TSLA) Q3 2023 earnings outcomes:


Tesla (NASDAQ:TSLA) posted its Q3 2023 earnings report after markets closed right now. The outcomes, which had been mentioned within the Q3 2023 Replace Letter, had been launched after the closing bell on Wednesday, October 18, 2023.

Tesla’s earnings come on the heels of 1 / 4 that noticed a decline in manufacturing and deliveries, thanks partly to the rollout of the upgraded Mannequin 3 in Gigafactory Shanghai. Within the third quarter, Tesla produced 430,488 automobiles and delivered 435,059. Tesla additionally maintained its goal quantity of 1.8 million automobiles this 2023. 

The next is a fast overview of Tesla’s Q3 2023 earnings outcomes.

REVENUE

Within the third quarter, Tesla posted revenues of $23.35 billion. As compared, analysts anticipate Tesla to report a income of $23.9 billion in Q3 2023. Complete income grew 9% YoY in Q3 regardless of the difficult quarter. As per the Q3 2023 Replace Letter, Tesla’s third quarter revenues had been affected by the corporate’s development and enhance in car deliveries, in addition to the decreased common promoting value of its automobiles year-over-year. 

EARNINGS PER SHARE

Tesla’s non-GAAP earnings per share for the primary quarter of 2023 was listed at $0.66. As compared, analysts had been anticipating Tesla to put up an earnings per share of $0.72. GAAP earnings per share was at $0.53, which can also be under the anticipated $0.64 per share. 

PROFITABILITY 

Tesla posted a 7.6% working margin in Q3. The corporate additionally posted a $1.8 billion GAAP working revenue, $1.9 billion GAAP web revenue, and $2.3 billion non-GAAP web revenue in Q3 within the third quarter. The truth that Tesla remained worthwhile this Q3 appears to be a testomony to the energy of the corporate’s enterprise. 

Total, working revenue decreased year-over-year to $1.8 billion within the third quarter, leading to a 7.6% working margin.

CASH

Tesla’s quarter-end money, money equivalents, and investments elevated sequentially by $3.0 billion to $26.1 billion within the third quarter. This was resulting from financing actions of $2.3 billion and free money circulate of $0.8 billion.

OTHER KEY UPDATES

  • Tesla has greater than doubled the scale of its AI coaching compute to accommodate the corporate’s rising dataset and its Optimus humanoid robotic program.
  • First Tesla Cybertruck supply occasion is about for November 30, 2023
  • Gigafactory Texas’ Cybertruck capability is at 125,000 models per yr
  • Gigafactory Shanghai’s annual output has been adjusted to over 950,000 automobiles
  • FSD Beta’s cumulative miles has reached 525 million 
  • Tesla Power deployments hit a report excessive of 4.0 GWh in Q3 2023

Under is Tesla’s Q3 2023 Replace Letter.

tsla-q3 by Simon Alvarez

Don’t hesitate to contact us with information ideas. Simply ship a message to simon@teslarati.com to offer us a heads up.

Tesla (TSLA) Q3 2023 earnings outcomes: $23.5B in income and 17.9% gross margin








Supply hyperlink

RELATED ARTICLES

Most Popular