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Wednesday, July 20, 2022

Tesla Earnings -- Big Bottom Line Beat -- 2Q22

Big bottom line beat.

Earnings:

  • non-GAAP EPS: $2.27 vs $1.80 forecast;
  • non-GAAP revenue: $16.9 billion vs $17.1 billion beat
  • vehicle prices are up 25% to 30% from a year ago, automotive margins compressed for the quarter to 28%
  • previously: margins were 33% in 1Q22
  • a slightly disappointing delivery figure of 254,695 EVs for 2Q22
  • the company sold 75% of its position in Bitcoin: total Bitcoin sales, $936 million
  • shares up nicely for the day

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