Tesla's Q1 2024 Earnings Call: Key Takeaways
Strong Performance Meets Mixed Reactions
Tesla released its Q1 2024 earnings results on April 23, 2024, sparking a mixed reaction in after-hours trading. While the company reported impressive financial results, its outlook for the future raised concerns among some investors.
Financial Highlights
For the quarter ending December 31, 2023, Tesla reported:
- Revenue: $40.0 billion
- Earnings per share: $1.29
- Automotive gross margin: 26.5%
- Vehicle deliveries: 425,000
These results surpassed analysts' expectations, as the company continued to benefit from strong demand for its electric vehicles.
Outlook and Concerns
However, Tesla's outlook for Q2 and beyond tempered investors' enthusiasm. The company noted challenges with supply chain disruptions and rising raw material costs, which could impact its profitability.
Tesla also hinted at a slowdown in vehicle deliveries, predicting that growth would be more moderate in the coming quarters. This raised concerns among some investors who had anticipated continued exponential growth.
Market Reaction
In after-hours trading, Tesla stock initially rose but later retreated. As of April 22, 2024, at 10:44 am ET, the stock was trading at $117, down slightly from its pre-earnings close.
Analysts are closely monitoring the situation and expect further market volatility in the coming days as investors digest Tesla's earnings results and outlook.
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