Tesla posted its financial statement for the second quarter of the year this afternoon
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Earlier in July, Ars Technica learned that the American automaker had had a good quarter in terms of sales, growing 25 percent year over year.
Key facts
- Tesla brought in $20.5 billion from its electric vehicle business, a 23 percent increase year over year, and $146 million came from automotive regulatory credits
- Tesla’s operating expenses went up 47 percent to $4.4 billion, and income from those operations fell by 57 percent year over year to $398 million
- Its capital expenditures grew by 142 percent to $5.8 billion, and free cash flow is currently negative $1.1 billion
- There was growth from its energy and storage business, which grew 13 percent year over year to revenues of $3.1 billion, but the most growth was in Tesla’s services, which doubled, bringing in $4.6
Summary
Tesla posted its financial statement for the second quarter of the year this afternoon. Tesla brought in $20.5 billion from its electric vehicle business, a 23 percent increase year over year, and $146 million came from automotive regulatory credits. There was growth from its energy and storage business, which grew 13 percent year over year to revenues of $3.1 billion, but the most growth was in Tesla’s services, which doubled, bringing in $4.6 billion. Overall, total revenues were up 26 percent, to $28.2 billion. But the cost of doing business went up more.