Tesla Inc
TSLA
$468.37 2.59%
Exchange: NASDAQ | Sector: Consumer Cyclical | Industry: Auto Manufacturers
Q3 2023
Published: Oct 23, 2023

Earnings Highlights

  • Revenue of $23.35B up 8.8% year-over-year
  • EPS of $0.53 decreased by 44.8% from previous year
  • Gross margin of 17.9%
  • Net income of 1.85B
  • ""reducing the cost of our vehicles is our top priority," - Vaibhav Taneja, CFO" - Vaibhav Taneja

Tesla Inc (TSLA) Q3 2023 Financial Results: Navigating Challenges Amid Growth Prospects

Executive Summary

In Q3 2023, Tesla Inc (TSLA) reported a revenue of $23.35 billion, reflecting an 8.84% increase year-over-year but a 6.33% decrease quarter-over-quarter, highlighting pressures from economic uncertainty and declining vehicle prices. Net income of $1.85 billion represents a sharp decline of 43.71% YoY, marking significant challenges in maintaining profitability-driven margins. Management emphasized the ongoing transition toward sustainable production while acknowledging elevated costs due to factory upgrades and rising interest rates that impacted consumer affordability.

Key Performance Indicators

Revenue

23.35B
QoQ: -6.33% | YoY:8.84%

Gross Profit

4.18B
17.89% margin
QoQ: -7.83% | YoY:-22.37%

Operating Income

1.76B
QoQ: -26.47% | YoY:-52.17%

Net Income

1.85B
QoQ: -31.45% | YoY:-43.71%

EPS

0.58
QoQ: -31.76% | YoY:-44.76%

Revenue Trend

Margin Analysis

Key Insights

**Revenue:** $23.35 billion (YoY Increase: 8.84%, QoQ Decrease: 6.33%) **Gross Profit:** $4.18 billion (Gross Margin: 17.8%, YoY Decrease: 22.37%, QoQ Decrease: 7.83%) **Operating Income:** $1.76 billion (Operating Margin: 7.55%, YoY Decrease: 52.17%, QoQ Decrease: 26.47%) **Net Income:** $1.85 billion (Net Margin: 7.93%, YoY Decrease: 43.71%, QoQ Decrease: 31.45%) **EPS:** $0.58 (Diluted EPS: $0.53) **Current Ratio:** 1.69 **Debt:** $8.19 billion, providing a low debt ratio of 0.039...

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 19,335.00 0.12 -9.2% View
Q4 2024 25,707.00 0.66 +2.2% View
Q3 2024 25,182.00 0.62 +7.9% View
Q2 2024 25,500.00 0.42 +2.3% View
Q1 2024 21,301.00 0.34 -8.7% View
Q3 2023 23,350.00 0.53 +8.8% View