Tesla (TSLA) releases Q2 2021 results: suprises with big profit beat
Tesla (TSLA) has released its financial results and shareholders letter for the second quarter of 2021 after market close today.
We are updating this post with all the details from the financial results, shareholders’ letter, and the conference call later tonight. Refresh for the latest information.
Earlier today, we posted our Tesla earnings preview with Wall Street expectations.
The Wall Street consensus for this quarter is $11.532 billion in revenue and earnings of $0.94 per share.
The automaker has now released its Q2 2021 results and it shows a significant beat of both revenue and earnings expectations with revenue of $11.958 billion and earnings of $1.45 per share (non-GAAP).
Tesla was more profitable than expected this quarter:
It resulted in a strong free cash flow of over $600 million, but Tesla repaid $1.6 billion – resulting in a decrease of cash-on-hand:
Tesla’s automotive gross margins have improved to 28% (25% without regulatory credits) this quarter with operating margin now reaching 11%.
Here we will be posting our follow-up posts about the earnings and conference call to expand on the most important points (refresh the page to see the most recent posts):
• Tesla gives rare update on 4680 battery cell production: still some work to do
• Elon Musk explains how non-Tesla EV owners are going to be able to use the Supercharger network
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