Tesla’s quarterly profit exceeded 1 billion for the first time, Musk “Versailles”: No more important things to participate in the earnings conference

In the second quarter of Tesla’s various operating indicators, Musk: “This is the last time I participate in Tesla’s earnings conference call, unless there are very important things to report.”

In the second quarter of Tesla’s various operating indicators, Musk: “This is the last time I participate in Tesla’s earnings conference call, unless there are very important things to report.”

On July 27th, Beijing time, Tesla (TSLA.NASDAQ) released its second quarter earnings report after the US market. According to the report, Tesla’s revenue in the second quarter was approximately US$11.96 billion, an increase of approximately 98% year-on-year. GAAP net profit attributable to ordinary shareholders was approximately US$1.14 billion, which was nearly 10 times that of the same period last year, marking the company’s first net profit of over US$1 billion. . Among them, Tesla’s automotive business revenue during the reporting period was approximately US$10.21 billion, a year-on-year increase of approximately 97%. The GAAP automotive gross profit margin in the second quarter also increased from 25.4% in the same period last year to 28.4% (25.8% after deducting points revenue). 

Tesla’s second-quarter revenue of US$11.96 billion and adjusted earnings per share of US$1.45 both exceeded market expectations. Previously, Refinitiv (Refinitiv) as the representative of the organization predicted its revenue during the reporting period of 11.3 billion US dollars, adjusted earnings per share of 0.98 US dollars. 

Tesla's quarterly profit exceeded 1 billion for the first time, Musk "Versailles": No more important things to participate in the earnings conference

Image source: Unsplash 

According to Times Finance, after this quarterly profit, Tesla has achieved quarterly profit for the eighth consecutive time. Compared with previous quarterly profits, Tesla relied more on automobiles and other new energy products to achieve profitability in the second quarter of 2021, rather than selling emission credits to other car companies or profiting from bitcoin market transactions. According to the financial report, of Tesla’s approximately US$1.14 billion in net profit, approximately US$350 million came from the transfer of emission credits, which was a significant decrease from approximately US$5.2 in the first quarter, while Bitcoin assets were impaired by approximately 2,300 during the reporting period Ten thousand U.S. dollars. 

Focusing on Tesla’s complete vehicle business, its Q2 delivery of new vehicles in 2021 exceeded the 200,000 mark, setting a new quarterly sales record for Tesla. Among the 200,000 vehicles delivered, Model 3 and Model Y accounted for more than 99%. 

In the second quarter, under the influence of the supply chain problem typical of chips, Tesla was able to maintain a strong new car sales momentum, which is closely related to the stable production capacity of the Shanghai plant. According to Tesla’s second quarter report, the current annual production capacity of the Shanghai plant has exceeded 450,000 vehicles. Taking into account the strong demand and cost of the domestic market in the United States, the Shanghai plant has become Tesla’s main vehicle export center (The primary vehicle export hub). 

According to Times Finance previously learned from Tesla China, from this year, all Model 3 models exported to the world will be supplied by the Shanghai plant, “including the Asia-Pacific region, Japan, Australia, New Zealand, Singapore, etc.”. As Model Y’s production capacity continues to increase, it is expected that the Shanghai plant’s new car exports in the second half of the year will continue to increase. 

“According to the performance of the second quarter report, Tesla is expected to complete its annual sales target of 900,000 vehicles.” On July 27, Wall Street investment bank Wedbush Securities analyst Dan Ives said that Tesla’s sales of 386,000 vehicles in the first half of the year were almost The same period last year doubled, “Although the supply chain problems will continue, but it is expected to ease in the next 6-9 months.” 

Tesla's quarterly profit exceeded 1 billion for the first time, Musk "Versailles": No more important things to participate in the earnings conference

Tesla Semi truck Image source: Internet 

It is worth mentioning that in the supply chain, batteries have also become a major factor that plagues Tesla. 

“Due to battery cell capacity constraints and global supply chain issues, we decided to postpone the Semi-trailer project to 2022.” According to Tesla’s second quarter earnings report. As a key product of Tesla’s entry into the commercial vehicle field, Semi semi-trailer has become the focus of the industry since its debut in 2017. On top of it, Tesla will apply the latest technology and the largest battery pack. 

In general, Tesla’s second-quarter financial report is in a stable and improving trend in terms of core operating indicators such as revenue and net profit, or the status of its main business such as factory capacity and new car planning. In the context of a better situation, Tesla CEO Elon Musk also “Versailles” in the conference call after the release of the earnings report. 

“This is the last time I participate in the Tesla earnings conference call, unless there are very important things to report.” Musk said. 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/teslas-quarterly-profit-exceeded-1-billion-for-the-first-time-musk-versailles-no-more-important-things-to-participate-in-the-earnings-conference/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2021-07-27 09:14
Next 2021-07-27 09:15

Related articles