Standard

Elon Musk

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
  Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions. 
</div> 
<p class="has-drop-cap">Tesla reported <a aria-label="Q2 2023 earnings (opens in a new tab)" href="https://ir.tesla.com/#quarterly-disclosure" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">Q2 2023 earnings</a> on Wednesday, generating the strongest quarterly revenue on record. However, Tesla’s operating margin notably dropped in the quarter, likely due to <a href="https://tokenist.com/tesla-tumbles-3-in-premarket-after-sixth-price-cut-this-year/" rel="noopener noreferrer nofollow" class="deco-link">aggressive price cuts</a>, sending the carmaker’s stock tumbling in the premarket. Additionally, there were no significant updates on the Cybertruck during the earnings call. </p> 
<h3 id="tesla-reports-record-quarterly-revenue-but-margins-drop-9">Tesla Reports Record Quarterly Revenue, But Margins Drop 9%</h3> 
<p>Tesla shares are down nearly 3% in premarket trading Thursday after the electric vehicle (EV) giant reported financial results for Q2 2023. The company reported its best-ever quarterly revenue; however, margins dropped notably in the three months, raising concerns among investors.</p> 
<p>More particularly, the automaker reported adjusted earnings per share of 91 cents in the second quarter, topping the consensus estimates of 82 cents per share. Revenue came in at $24.93 billion, while analysts estimated $24.47 billion. Net income stood at $2.7 billion in Q2, up 20% year-over-year, though operating income fell 3% to $2.4 billion.</p> 
<p>While earnings figures remained vital for Tesla, the same cannot be said for the carmaker’s margins. Operating margins stood at 9.6% in Q2, the lowest for the previous five quarters. The company’s total margins came in at 18.2%, the lowest point for the same period.</p> 
<p>Meanwhile, Elon Musk and other Tesla executives failed to disclose precise details about specs and delivery dates for the much-anticipated Cybertruck. The company also expects vehicle production to slow in Q3 due to closings aimed at factory improvements.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noopener noreferrer nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p> 
 </div> 
</div> 
<h3 id="tesla-s-shares-up-170-in-2023">Tesla’s Shares Up 170% in 2023</h3> 
<p>Although the premarket moves represent a noteworthy drop, it does little to affect the company’s impressive stock market performance this year. Following a turbulent 2022 driven by <a href="https://tokenist.com/cpi-inflation-at-9-1-beats-highest-estimates/" rel="noopener noreferrer nofollow" class="deco-link">challenging macroeconomic conditions</a> that weighed on investor sentiment, Tesla’s shares have rebounded by a whopping 170% this year.</p> 
<p>The recovery can be attributed to a mix of factors, including the comeback of the broader EV market, improving economic circumstances, a resurgence in retail investors’ activity, and Tesla’s aggressive price cuts, which made more of its vehicles eligible for federal tax credits.</p> 
<p>In addition, Tesla inked several landmark partnerships with other major automakers to boost the adoption of its <a aria-label="North American Charging Standard (NACS) (opens in a new tab)" href="https://www.tesla.com/blog/opening-north-american-charging-standard" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">North American Charging Standard (NACS)</a>. The new partners <a href="https://tokenist.com/tesla-up-3-3-as-rivian-agrees-on-charging-standard/" rel="noopener noreferrer nofollow" class="deco-link">include Rivian</a>, Ford, Mercedes-Benz, and Nissan.</p> 
<div class="cta-sub js__cta-sub"> 
 <div class="cta-sub__start" data-step="1"> 
  <div class="cta-sub__title"> <strong>Finance is changing.</strong> 
  </div> 
  <div class="cta-sub__subtitle">
    Learn how, with Five Minute Finance. 
  </div> 
  <div class="cta-sub__excerpt">
    A weekly newsletter that covers the big trends in FinTech and Decentralized Finance. 
  </div> <button type="button" class="btn">Try it out (for free)</button> 
 </div> 
 <div class="cta-sub__form" data-step="2" style="display: none;"> 
  <script type="text/javascript" src="https://app.getresponse.com/view_webform_v2.js?u=QcLhh&amp;webforms_id=zw3Wv"></script> 
 </div> 
 <div class="cta-sub__result" data-step="3" style="display: none;"> 
  <div class="cta-sub__title">
    Awesome 
  </div> 
  <div class="cta-sub__caption">
    You’ve subscribed. 
  </div> 
  <div class="cta-sub__greeting">
    You’re well on your way to being in the know. 
  </div> 
 </div> 
</div> 
<p><em><strong>Where do you think Tesla’s stock price will stand at the end of the year? Let us know in the comments below.</strong></em></p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/tesla-down-3-3-premarket-as-operating-margin-falls/">Tesla Down 3.3% Premarket as Operating Margin Falls</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Tesla Down 3.3% Premarket as Operating Margin Falls

Tabla de contenidos

Tokenist

Otros artículos publicados el 20 jul 2023

Mike Novogratz: "Ripple Victory is a Message to the White House and Gary Gensler"

Historic Vitalik Buterin Portrait from 2014 Being Auctioned as NFT

Hardware Wallet Maker Ledger Targets Latin America Growth

Price Analysis: Traders Bullish on Ripple and Stellar as XRP and XLM Prices See Steady Rise; Coul...

Polkadot Loses Market Dominance As Borroe ($ROE) Prepares To Skyrocket Into The Top 100 Crypto Re...

What to Expect from Shiba Coin (SHIB) in the Coming Days?

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!