Tesla's Q3 2024 financial report significantly beats expectations! Especially the most concerning gross margin and earnings per share!

🔹 Adjusted earnings per share: $0.72 (expected $0.60)🟢; year-on-year growth +9%

🔹 Revenue: $25.18 billion (expected $25.5 billion)🔴; year-on-year growth +8%

🔹 Automotive revenue: $20.02 billion (expected $20.4 billion)🔴; year-on-year growth +2%

🔹 Energy generation and storage revenue: $2.38 billion; year-on-year growth +52%

🔹 Services and other revenue: $2.79 billion; year-on-year growth +29%

🔹 Gross margin: 19.8% (expected 16.7%)🟢

Operating metrics:

🔹 Operating income: $2.72 billion (expected $2.2 billion)🟢; year-on-year growth +54%

🔹 Free cash flow: $2.74 billion (expected $1.61 billion)🟢; exceeding expectations +70.2%

🔹 Capital expenditures: $3.51 billion (expected $2.56 billion)🔴; year-on-year growth +43%

🔹 Adjusted EBITDA: $4.67 billion; year-on-year growth +24%

🔹 Operating profit margin: 10.8%; year-on-year increase of 323 basis points

Outlook and expectations:

🔸 Expected slight growth in total deliveries for 2024

🔸 Expected energy deployment to double in 2024

🔸 Focus on expanding product lines, AI development, and reducing manufacturing costs

Automotive business performance:

🔹 Model 3/Y production: 443,668 units; year-on-year growth +6%

🔹 Other model production: 26,128 units; year-on-year growth +91%

🔹 Total deliveries: 462,890 units; year-on-year growth +6%

🔹 Cost per vehicle: approximately $35,100 (historical low)

🔹 Carbon credit revenue: $739 million; second highest quarter in history

Strategic updates:

🔸 Progress on plans to launch more affordable models in the first half of 2025 is going smoothly

🔸 Cybertruck becomes the third best-selling electric vehicle in the U.S. in Q3

🔸 Model 3/Y will launch new models and new colors

$Tesla(TSLA.US)