Tesla Announces 2023Q2 Earnings Report
I. 2023Q2 Financial Data
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Total revenue was $ 24.927 billion, a 47% increase year-on-year and a 7% increase month-on-month;
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Auto business revenue was $ 20.419 billion, a 49% increase year-on-year and an 8% increase month-on-month;
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Total gross profit was $ 4.533 billion, a 7% increase year-on-year and a flat growth month-on-month;
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Overall gross margin was 18%, versus 25% in the same period last year and 19% in the previous quarter;
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Sales cost was $ 16.841 billion, an increase of 66% year-on-year and 9% month-on-month;
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Net profit was $ 2.614 billion, vs. $ 2.539 billion in the previous quarter;
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Operating cash flow was $ 3.065 billion, up 30% year-on-year and 22% quarter-on-quarter, with free cash flow of $ 1.005 billion;
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The company’s cash reserves (cash and cash equivalents, restricted cash, and deposits and short-term investment balance) was $ 23.075 billion, vs. $ 22.402 billion in the previous quarter;
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Tesla’s R&D expenses in the second quarter were $ 943 million, up 22% quarter-on-quarter, accounting for 4% of total quarterly revenue;
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Sales and administration expenses were $ 1.191 billion, an increase of 24% year-on-year and 11% quarter-on-quarter.
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