Tesla reported an adjusted EPS of $1.45 compared to the 98 cents expected by the market. It also beat revenue expectations of $11.30 billion, with figures coming in at $11.96 billion
The company’s overall automotive revenue accounted for $10.21 billion, out of which $354 million came from sales of regulatory credits. Second place is taken by services and other revenues totaling $951 million. Tesla now operates 598 stores and service centers and a mobile service fleet that includes 1,091 vehicles. Compared to last year’s 121% increase, this quarter reported a growth of only 34%.
Moreover, Tesla is on track to build the first Model Y sedans in new Austin and Berlin facilities before the end of 2021. Still, during the investor call, Elon Musk warned that the global shortage in semiconductor supplies remains a severe problem and could impact production rates over the second half of the year.
However, the company’s cash position decreased about 5% from last quarter, reaching $16.23 billion. According to Tesla, the decline was “driven mainly by net debt and finance lease repayments of $1.6B, partially offset by the free cash flow of $619M.”
Following the release, Tesla stock price traded 1% higher.
Sources: cnbc.com, thestreet.com
This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com
JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.