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Volkswagen:Quarterly Results/2023 Q1: Difference between revisions
Volkswagen:Quarterly Results/2023 Q1 (view source)
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=== Tesla === | === Tesla === | ||
Tesla's net income declined by 24% year-on-year due to higher raw material, commodity, logistics and warranty costs, as well as lower revenue from environmental credits. Its automotive revenue rose by 18% year-on-year to $19.96 billion<ref name=":0">https://www.cnbc.com/2023/04/19/tesla-tsla-earnings-q1-2023.html</ref>. Meanwhile, automotive gross margin came in at 18.3% versus 20.5% expected by analysts<ref>https://www.youtube.com/watch?v=BfbewViXvu8</ref>. | Tesla's net income declined by 24% year-on-year due to higher raw material, commodity, logistics and warranty costs, as well as lower revenue from environmental credits. Its automotive revenue rose by 18% year-on-year to $19.96 billion<ref name=":0">https://www.cnbc.com/2023/04/19/tesla-tsla-earnings-q1-2023.html</ref>. Meanwhile, gross margins dropped to 19.3% from 29.1% same quarter last year a series of price cuts. Additionally, its automotive gross margin came in at 18.3% versus 20.5% expected by analysts<ref name=":2">https://www.youtube.com/watch?v=BfbewViXvu8</ref>. | ||
During the earnings call, Elon Musk said that he expects 12 months of "stormy weather" in the economy and that " provided there are no major geopolitical wildcards that show up, that things start getting sunny around spring next year."<ref name=":1">https://seekingalpha.com/article/4595114-tesla-inc-tsla-q1-2023-earnings-call-transcript</ref> | During the earnings call, Elon Musk said that he expects 12 months of "stormy weather" in the economy and that " provided there are no major geopolitical wildcards that show up, that things start getting sunny around spring next year."<ref name=":1">https://seekingalpha.com/article/4595114-tesla-inc-tsla-q1-2023-earnings-call-transcript</ref> | ||
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Despite Musk's warnings that the rising interest rate will hurt consumers, the company continues to have an optimistic view of demand. They maintained their production outlook for the year at 1.8 million vehicles(+31% year-over-year)<ref>https://tesla-cdn.thron.com/static/ZXSBN8_TSLA_Q1_2023_Update_ABMJPG.pdf?xseo=&response-content-disposition=inline%3Bfilename%3D%22e826b065-cc14-467c-8c9c-e1feb7189ba8.pdf%22 (page 12)</ref>. | Despite Musk's warnings that the rising interest rate will hurt consumers, the company continues to have an optimistic view of demand. They maintained their production outlook for the year at 1.8 million vehicles(+31% year-over-year)<ref>https://tesla-cdn.thron.com/static/ZXSBN8_TSLA_Q1_2023_Update_ABMJPG.pdf?xseo=&response-content-disposition=inline%3Bfilename%3D%22e826b065-cc14-467c-8c9c-e1feb7189ba8.pdf%22 (page 12)</ref>. | ||
==== Summary of results ==== | |||
{| class="wikitable" | {| class="wikitable" | ||
|+ | |+ | ||
!Key Items | !Key Items | ||
!Q1 2023 | !Q1 2023 | ||
!Analysts expectations | !Analysts expectations | ||
!Y/Y Growth | !Y/Y Growth | ||
|- | |- | ||
|Revenue | |Revenue<ref name=":0" /> | ||
|$23.33 billion | |$23.33 billion | ||
|$23.21 billion | |$23.21 billion | ||
| +24% | | +24% | ||
|- | |- | ||
|Net Income | |Net Income<ref name=":0" /> | ||
|$2.51 billion | |$2.51 billion | ||
| | | | ||
| -24% | | -24% | ||
|- | |- | ||
|EPS | |EPS<ref name=":0" /> | ||
|$85 cents per share | |$85 cents per share | ||
|$85 cents per share | |$85 cents per share | ||
| | | | ||
|- | |- | ||
|Automotive Revenue | |Automotive Revenue<ref name=":0" /> | ||
|$19.96 billion | |$19.96 billion | ||
| | |||
| +18% | |||
|- | |||
|Gross Margins<ref>https://www.theguardian.com/technology/2023/apr/19/tesla-earnings-report-q1-car-prices</ref> | |||
|19.3% | |||
| | |||
| | |||
|- | |||
|Automotive Gross Margin<ref name=":2" /> | |||
|18.3% | |||
|20.5% | |||
| | | | ||
|} | |} | ||