Tesla (TSLA) Tops Q2 EPS by 49c, Revenues Beat
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Tesla (NASDAQ: TSLA) reported Q2 EPS of $1.45, $0.49 better than the analyst estimate of $0.96. Revenue for the quarter came in at $11.96 billion versus the consensus estimate of $11.21 billion.
Total production was 206,421, versus an expected 201,000. Model 3/Y production was 204,081 and Model S/X production was 2,340.
"In the second quarter of 2021, we broke new and notable records. We produced and delivered over 200,000 vehicles, achieved an operating margin of 11.0% and exceeded $1B of GAAP net income for the first time in our history.
Supply chain challenges, in particular global semiconductor shortages and port congestion, continued to be present in Q2. The Tesla team, including supply chain, software development and our factories, worked extremely hard to keep production running as close to full capacity as possible. With global vehicle demand at record levels, component supply will have a strong influence on the rate of our delivery growth for the rest of this year.
We successfully launched Tesla Vision in Q2, which was mainly possible due to our ability to use data from over a million Tesla vehicles to source a large, diverse and accurate dataset. Solving full autonomy is a difficult engineering challenge in which we continue to believe can only be solved through the collection of large, real-world datasets and cuttingedge AI.
Public sentiment and support for electric vehicles seems to be at a never-before-seen inflection point. We continue to work hard to drive down costs and increase our rate of production to make electric vehicles accessible to as many people as possible."
For earnings history and earnings-related data on Tesla (TSLA) click here.
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