Episode 212: TESLA EARNINGS RECAP

<p>Tesla ($TSLA) stock is slipping after the bell as the electric-vehicle maker reported slight revenue and profit misses and gross margin that dipped below 20% to 19.3% as the cost of recent price cuts hit profitability. For the quarter, Tesla reported Q1 revenue of $23.33 billion, slightly below Street estimates of $23.35 billion, with Q1 adjusted EPS coming in at $0.85, below Street estimates of $0.86. That revenue figure for Q1 represents a slight dip from the $24.32 billion Tesla reported in Q4, but still 24% higher than a year ago. Looking ahead, Tesla still sees 2023 global production of 1.8 million vehicles, with its long-term delivery growth rate staying at 50%. Tesla also said Cybertruck production is on track to begin later this year at Giga Austin, with the company producing &quot;Alpha,&quot; or early test versions, of the vehicle.</p> <p><br></p> <p>Tesla instituted a number of price cuts in the U.S., Asia, and some European markets in Q1 of this year. Gross margins dipping to 19.3% may reflect the costs of those price cuts. Tesla slashed prices of its Model 3 and Model Y EVs yet again, in fact bringing one of them below $40,000.The most recent price cut was the sixth one this year by Tesla in the U.S., saw each version of the Model Y SUV slashed by $3,000 each, with the Model 3 RWD (rear-wheel drive) dropping by $2,000 to $39,990. The base Model Y, known as the AWD or all-wheel drive version, now starts at $46,990.</p> <p><br></p> <p> ☕Get your coffee today at www.duckrivercoffee.com 📚Patreon: https://www.patreon.com/MarketMarauders 📚Books: https://www.amazon.com/sk=reginald+seay&amp;crid=XNP2FB40Q3TH&amp;sprefix=reginald+seay%2Caps%2C232&amp;ref=nb_sb_noss 📚 Course: https://market-marauders-complete-guides.teachable.com/p/the-complete-guide-to-cryptocurrency 📚Website: www.marketmarauders.net 🦩Twitter: @yourequest 😎Instagram: market_marauders 📧Email: reg24k@gmail.com 🚧 DISCLAIMER🚧 I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, pre