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Bloomberg Businessweek
Instant Reaction: Tesla Q2 Earnings
Jul 23, 2024
Global Autos and Industrial Analyst Steve Mann dives into Tesla's Q2 earnings, discussing restructuring charges affecting stock, challenges in gross margins, strategic moves like a humanoid robot, entry into new markets, competition concerns, scaling capabilities, delayed AI event. Also covers Tesla's potential pivot to AI technology for energy optimization, challenges in robo taxi field, and push for affordable electric vehicles below $30,000.
08:31
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Quick takeaways
- Tesla's Q2 earnings were impacted by a restructuring charge but exceeded consensus expectations.
- Concerns arise over Tesla's declining automotive gross margin and investors seek stability or improvement.
Deep dives
Tesla's Earnings Report and Concerns Over Gross Margin Performance
Tesla's recent earnings report revealed a restructuring charge that impacted their performance, although exceeding consensus expectations excluding this charge. The continuous decline in automotive gross margin, falling from 16.4% to 14.6%, raised concerns among analysts. Investors are looking for signs of stability or improvement in gross margin, aiming to reach previous levels of around 20%. Tesla's expansion into new markets and the delayed AI event are pivotal factors influencing their outlook.
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