Tesla Releases 2024 Q1 Financial Report
I. 2024 Q1 Financial Data
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Total revenue of $213.01 billion, a decrease of 9% year-on-year and a decrease of 15% quarter-on-quarter;
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Automotive business revenue of $164.6 billion, a decrease of 13% year-on-year and a decrease of 20% quarter-on-quarter;
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Total gross profit of $36.96 billion, a decrease of 18% year-on-year and a decrease of 17% quarter-on-quarter;
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Overall gross margin was 17%, compared to 19% in the same period last year and 18% in the previous quarter;
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Per-vehicle gross margin of 0%, a decrease from the previous quarter (0%);
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Sales cost of $138.97 billion, a decrease of 10% year-on-year and a decrease of 19% quarter-on-quarter;
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Net profit of $11.44 billion, net profit of $79.43 billion in the previous quarter;
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Operating cash flow of $242 million, a decrease of 90% year-on-year and a decrease of 98%, free cash flow of $0 billion;
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Company cash reserves (cash and cash equivalents, restricted cash, and balance of time deposits and short-term investments) of $268.63 billion, compared to $290.94 billion in the previous quarter;
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Tesla’s R&D expenses in the first quarter were $1.151 billion, a quarter-on-quarter increase of 5%, accounting for 5% of the total quarterly revenue;
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Sales and administrative expenses were $1.374 billion, an increase of 28% year-on-year and an increase of 7% quarter-on-quarter.
II. 2024 Q2 Business Outlook
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Expected vehicle deliveries to be between 0 and 0, approximately -100% to -100% compared to 2023Q2;
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Expected total revenue to be between $0 billion and $0 billion, approximately -100% to -100% compared to 2023Q2.
This article is a translation by AI of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.