Revenue: $25.2B vs. $25.3B est.
Total GAAP GM: 19.8%
EPS (GAAP): $0.62 vs. $0.49 est.
EPS (non-GAAP): $0.72 vs. $0.59 est.
Overall Interpretation:
- Revenue was nearly in line with expectations but slightly missed, which may signal challenges in delivery volume or pricing.
- The gross margin of 19.8% is lower than previous levels, indicating Tesla is feeling the impact of cost pressures and potentially lower pricing on vehicles. This might concern investors, as Tesla’s profitability per vehicle has decreased compared to the past.
- However, both GAAP and non-GAAP EPS beat expectations significantly, suggesting that Tesla managed its costs well and had strong operational efficiency. This could mean Tesla is finding ways to maintain profitability despite rising costs and price reductions.
