Tesla Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Tesla (NASDAQ:TSLA) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$25.5b (up 2.3% from 2Q 2023).
• Net income: US$1.48b (down 45% from 2Q 2023).
• Profit margin: 5.8% (down from 11% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$0.46 (down from US$0.85 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Tesla Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) missed analyst estimates by 13%.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Auto industry in the US.

Performance of the American Auto industry.

The company's shares are down 13% from a week ago.

Valuation

Our analysis of Tesla based on 6 different valuation metrics shows it might be overvalued. Click here to find out what a fair price for the stock might be and where analysts see the share price heading over the next year.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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