Second-quarter revenue rose 25.5% to $28.2bn ($25.7bn expected), driven by strong growth in automotive sales and services revenue.
Operating profit fell 56.9% to $0.4bn ($1.1bn expected) as rising costs more than offset revenue growth.
Over the period, Tesla produced 451,758 vehicles and delivered 480,126, with deliveries ahead of expectations.
Free cash flow turned negative at $1.1bn, as capital expenditure more than doubled to $5.8bn. Net cash, including leases, rose $4.6bn to $34.2bn at the end of the quarter.
Management expects capex of more than $25bn this year, and for that to continue growing for the next two or three years.
The shares fell 4.1% in after-hours trading.
Our view
HL view to follow.
Tesla key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.