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 companyβs 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)