Tom Nash
230K subscribers
Certain famous analyst was quoted a few days ago - "I believe there's a strong probability Tesla will disappoint on earnings, either in the coming June or September quarter due to a decline regulatory credits" and as you now know that turned out to be total nonsense. Tesla finally got a $1B net income quarter, which is cool milestone. What’s even more impressive that Tesla did this, while reducing regulatory credit sales by 17% year over year to 354 million dollars, which is the lowest amount of credits Tesla sold since Q4 of 2019! The automotive revenues were 10.2 billion, which is almost a 100% increase year over year, not to mention a 120% increase in automotive gross profit year over year, to an amount of 2.9 billion. Automotive gross margin was also up, as it went up to 28.4% vs. 25.4% a year ago, while operating margin doubled from 5.5% of sales a year ago to 11% this quarter. In short, Tesla just had its best quarter in a while and I think this is just the start...