Tesla’s Strong Q2 Earnings Impress Financial Gurus on Twitter
- Shams Ul Zoha
- July 20, 2023
- 2:00 pm
WHAT YOU SHOULD KNOW
- Tesla’s Q2 revenue surged to $24.93 billion, a remarkable 47% YoY increase, surpassing the Street’s consensus estimate of $24.48 billion.
- Financial analysts on Twitter, including Dan Ives, Ross Gerber, and Gary Black, praised the company’s performance and strategic approach, with Ives commending their gross margin beat and Gerber highlighting Tesla’s growth in energy revenue.
- Despite the positive sentiment, some Twitter users, like Diogenes, pointed out certain concerns, including a $400 million swing in ‘Other Income’ impacting the earnings and a slight decrease in operating income and energy segment revenues compared to the previous quarter.
Tesla Inc. reported its second-quarter financial results on July 19, impressing financial experts on Twitter. The company’s revenue for Q2 reached $24.93 billion, showing a significant 47% increase compared to the previous year, surpassing the Street’s consensus estimate of $24.48 billion. Tesla’s performance reaffirmed its position as a dominant player in the electric vehicle (EV) market.
The earnings report highlighted Tesla’s commitment to innovation, particularly the highly anticipated Cybertruck, which is on track for initial deliveries this year. The company mentioned its global testing efforts for certification and validation of the vehicles. Additionally, Tesla made notable progress on the production of its 4680 Cells and emphasized its focus on artificial intelligence and the production of the Dojo Training computer.
Financial gurus on Twitter reacted positively to Tesla’s results. Dan Ives of Wedbush Securities praised the company’s gross margin beat and strategic advantage over other EV players. Ross Gerber of Gerber Kawasaki Wealth and Investment Management acknowledged Tesla’s solid report with positive earnings and healthy free cash flow. Gary Black of The Future Fund highlighted the company’s solid beat on adjusted earnings per share and the nearly tripled energy profits.
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