Tesla Inc
TSLA
$444.26 -5.15%
Exchange: NASDAQ | Sector: Consumer Cyclical | Industry: Auto Manufacturers
Q2 2023
Published: Jul 24, 2023

Earnings Highlights

  • Revenue of $24.93B up 47.2% year-over-year
  • EPS of $0.78 increased by 16.4% from previous year
  • Gross margin of 18.2%
  • Net income of 2.70B
  • ""...despite action taken to further improve vehicle affordability early in the quarter... we recognized – we realized per unit cost improvements in nearly every category, including material cost and commodities..."" - Zachary Kirkhorn

Tesla Inc (TSLA) Q2 2023 Financial Results: Record Revenue and Strategic Developments Amid Economic Challenges

Executive Summary

In Q2 2023, Tesla Inc (TSLA) achieved record revenue of $24.9 billion, a 47.2% year-over-year (YoY) increase and a 6.85% quarter-over-quarter (QoQ) growth. The company's commitment to increasing vehicle affordability amidst high-interest rates led to a healthy operating margin of 10%. Despite facing macroeconomic challenges, Tesla retained its target of 1.8 million vehicle deliveries for the year. Elon Musk praised the production success of the Model Y, which became the best-selling vehicle globally, indicating strong consumer demand. The company continues to enhance its focus on advancements in AI and full self-driving technologies, positioning itself for substantial long-term growth and value creation.

Key Performance Indicators

Revenue

24.93B
QoQ: 6.85% | YoY:47.20%

Gross Profit

4.53B
18.19% margin
QoQ: 0.49% | YoY:7.06%

Operating Income

2.40B
QoQ: -9.95% | YoY:-2.64%

Net Income

2.70B
QoQ: 7.56% | YoY:19.65%

EPS

0.85
QoQ: 6.25% | YoY:16.44%

Revenue Trend

Margin Analysis

Key Insights

  • **Revenue:** $24.9 billion (YoY: +47.2%, QoQ: +6.85%)
  • **Gross Profit:** $4.5 billion (Gross Margin: 18.18%)
  • **Operating Income:** $2.4 billion (Operating Margin: 9.6%)
  • **Net Income:** $2.7 billion (Net Margin: 10.8%)
  • **EPS:** $0.85 (Diluted EPS: $0.78)

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
Q2 2023 24,927.00 0.78 +47.2% View