Tesla earnings: Revenue of $19.335B vs $21.111B expected

• Non-GAAP adjusted EPS 0.27 vs 0.38 expected
• GAAP EPS 0.12
• Gross margin 16.3% vs 15.9% expected
• Operating margin 2.1%
• Adj net income of $934m vs $1.431B exp
• Tariff landscape will have larger impact on energy business compared to autos
• Plans for new vehicles, including more affordable models, remain on track for start of production in H1 2025
• Automotive revenues down 20% y/y

Shares are slightly lower initially.

The company said:

Uncertainty in the automotive and energy markets continues to increase as rapidly evolving
trade policy adversely impacts the global supply chain and cost structure of Tesla and our peers.
This dynamic, along with changing political sentiment, could have a meaningful impact on
demand for our products in the near-term. We remain committed to expanding our business
model to include delivering autonomous robots across multiple form factors and use cases –
powered by our real-world AI expertise – to our customers and for use in our factories, as we
navigate these headwinds.

Here is a look at “changing political sentiment”.

This article was written by Adam Button at www.forexlive.com.