Revenue came in at $28.23B. A solid beat over the $26.4B Wall Street was expecting. Automotive did $20.5B, Energy $3.1B, Services $4.58B. FSD subscribers now at 1.48M, up from 1.28M last quarter. All good headline numbers.
But then you get to margins. Operating margin came in at just 1.4%, down sharply from 4.2% last quarter. EPS landed at $0.32, below the ~$0.53 consensus. Capex was $5.8B and they're still sitting on $43.5B cash, with $4.6B in operating cash flow. Read on this: they got the revenue by moving more units that record 480K delivery quarter, but it looks like it cost them on the profitability side.
Volume up, margins down. Pretty much the exact tension analysts flagged going into tonight.
Watching how the call frames this. Got $TSLA up on BingX tracking the reaction live.
What's your read. Good quarter overall, or margins are the real story here? #Macro Insights#
$BTC
But then you get to margins. Operating margin came in at just 1.4%, down sharply from 4.2% last quarter. EPS landed at $0.32, below the ~$0.53 consensus. Capex was $5.8B and they're still sitting on $43.5B cash, with $4.6B in operating cash flow. Read on this: they got the revenue by moving more units that record 480K delivery quarter, but it looks like it cost them on the profitability side.
Volume up, margins down. Pretty much the exact tension analysts flagged going into tonight.
Watching how the call frames this. Got $TSLA up on BingX tracking the reaction live.
What's your read. Good quarter overall, or margins are the real story here? #Macro Insights#
$BTC