Tesla (TSLA) launched its monetary outcomes and shareholders letter for the primary quarter of 2023 after market shut as we speak.

We’re updating this put up with all the small print from the monetary outcomes, shareholders’ letter, and the convention name later tonight. Refresh for the most recent data.

Tesla Q1 2023 earnings expectations

As we reported in our Tesla Q1 2023 earnings preview earlier as we speak, the Wall Road consensus for this quarter was $23.617 billion in income and earnings of $0.85 per share.

It’s a tougher quarter to foretell for Wall Road as a result of important worth cuts that Tesla applied throughout the quarter.

We might be trying to see if Tesla meets, beats, or misses the expectations.

Tesla Q1 2023 monetary outcomes

Simply after the market shut as we speak, Tesla launched its monetary outcomes and confirmed that it managed to satisfy expectations $0.85 per share (non-GAAP) on earnings and missed on income by about $300 million.

Tesla reported $23.3 billion in income in Q1 2023, down ~$300 million from Wall Road’s expectations, however it did meet earnings expectations.

The largest information is probably going the truth that the corporate managed to retain industry-leading 19.3% gross margins on its automotive enterprise regardless of the value cuts earlier this quarter.

Tesla defined its pricing technique within the shareholder letter:

Our near-term pricing technique considers a long-term view on per automobile profitability given the potential lifetime worth of a Tesla automobile by way of autonomy, supercharging, connectivity and repair. We anticipate that our product pricing will proceed to evolve, upwards or downwards, relying on plenty of elements.

The automaker added about its gross margin:

Though we applied worth reductions on many automobile fashions throughout areas within the first quarter, our working margins decreased at a manageable price. We anticipate ongoing price discount of our automobiles, together with improved manufacturing effectivity at our latest factories and decrease logistics prices, and stay targeted on working leverage as we scale.

We might be posting our follow-up posts right here in regards to the earnings and convention name to develop on a very powerful factors (refresh the web page to see the newest posts):

Right here’s Tesla’s Q1 2023 shareholder presentation in full:

Right here’s Tesla’s convention name for the Q1 outcomes: