Tesla Inc
TSLA
$445.25 -4.94%
Exchange: NASDAQ | Sector: Consumer Cyclical | Industry: Auto Manufacturers
Q1 2023
Published: Apr 24, 2023

Earnings Highlights

  • Revenue of $23.33B up 24.4% year-over-year
  • EPS of $0.73 decreased by 25.2% from previous year
  • Gross margin of 19.3%
  • Net income of 2.51B
  • "Elon Musk: "We do believe we're like laying the groundwork here, and then it's better to ship a large number of cars at a lower margin, and subsequently, harvest that margin in the future as we perfect autonomy."" - Elon Musk

Tesla Inc (TSLA) Q1 2023 Financial Results: Navigating Growth Amidst Challenges

Executive Summary

In Q1 2023, Tesla Inc (TSLA) reported revenues of $23.33 billion, a 24.38% increase year-over-year, despite a revenue decline of 4.07% from the previous quarter. The company managed to achieve a gross profit of $4.51 billion, with a gross profit margin of 19.34%. Operating income stood at $2.66 billion, reflecting a robust operating margin of 11.42%. However, net income decreased by 24.26% year-over-year to $2.51 billion, impacted by one-time expenses and pricing adjustments. Despite these challenges, CEO Elon Musk reaffirmed the company’s long-term strategy focused on volume growth rather than short-term margins, emphasizing the potential profitability from vehicle autonomy in the future. Additionally, significant advancements in Tesla's energy sector were highlighted, showing promise for reaching high growth in its energy storage solutions, contributing to the overall business strategy.

Key Performance Indicators

Revenue

23.33B
QoQ: -4.07% | YoY:24.38%

Gross Profit

4.51B
19.34% margin
QoQ: -21.91% | YoY:-17.38%

Operating Income

2.66B
QoQ: -31.71% | YoY:-26.06%

Net Income

2.51B
QoQ: -32.34% | YoY:-24.26%

EPS

0.80
QoQ: -32.20% | YoY:-25.23%

Revenue Trend

Margin Analysis

Key Insights

  • **Revenue:** $23.33 billion (YoY: +24.38%, QoQ: -4.07%)
  • **Gross Profit:** $4.51 billion (Margin: 19.34%, YoY: -17.38%, QoQ: -21.91%)
  • **Operating Income:** $2.66 billion (Margin: 11.42%, YoY: -26.06%, QoQ: -31.71%)
  • **Net Income:** $2.51 billion (Margin: 10.71%, YoY: -24.26%, QoQ: -32.34%)
  • **EPS:** $0.80 (Diluted: $0.73)

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 19,335.00 0.12 -9.2% View
Q4 2024 25,707.00 0.66 +2.2% View
Q3 2024 25,182.00 0.62 +7.9% View
Q2 2024 25,500.00 0.42 +2.3% View
Q1 2024 21,301.00 0.34 -8.7% View
Q1 2023 23,329.00 0.73 +24.4% View