Q2 24 EPS
$0.52
MISS 16.13%
Est. $0.62
Q2 24 Revenue
$25.50B
BEAT +2.94%
Est. $24.77B
vs S&P Since Q2 24
+38.8%
BEATING MARKET
TSLA +72.0% vs S&P +33.2%
Market Reaction
Did TSLA Beat Earnings? Q2 2024 Results
Tesla delivered a mixed second quarter for 2024, posting revenue of $25.50 billion, up 2.3% year over year and edging past the $24.77 billion consensus estimate by 2.94%, yet falling short on the bottom line where earnings per share of $0.52 missed t… Read more Tesla delivered a mixed second quarter for 2024, posting revenue of $25.50 billion, up 2.3% year over year and edging past the $24.77 billion consensus estimate by 2.94%, yet falling short on the bottom line where earnings per share of $0.52 missed the $0.62 analyst expectation by 16.13%. The profitability shortfall reflected a sharp deterioration in margins, with GAAP operating income tumbling 33% year over year to $1.60 billion as restructuring charges of $622 million, lower average selling prices across the Model 3 and Y lineup, and heavy investment in AI infrastructure weighed on results. A bright spot was the Energy Generation and Storage segment, which doubled revenue to $3.01 billion on 158% growth in deployments. Looking ahead, Tesla acknowledged it sits between two major growth waves, with vehicle volume growth in 2024 expected to trail 2023's pace, while more affordable new models targeting a first-half 2025 production start and a robotaxi unveiling on the horizon offer investors a longer-term growth thesis to weigh against near-term margin pressure.
Key Takeaways
- • Energy Generation and Storage revenue doubled YoY to record levels with 9.4 GWh of deployments
- • Record regulatory credit revenue of $890M as other OEMs lag on emissions requirements
- • Sequential rebound in vehicle deliveries driven by improved consumer sentiment and attractive financing options
- • Cybertruck production more than tripled sequentially, became best-selling EV pickup in the U.S.
- • Lower cost per vehicle including lower raw material costs, freight and duties
- • Inventory decreased by $1.8B sequentially, aiding free cash flow recovery
TSLA YoY Financials
Q2 2024 vs Q2 2023, source: SEC Filings
TSLA Revenue by Segment
With YoY comparisons, source: SEC Filings
TSLA Earnings Trends
TSLA vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TSLA EPS Trend
Earnings per share: estimate vs actual
TSLA Revenue Trend
Quarterly revenue: estimate vs actual
TSLA Quarterly Results
8 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.36 | $0.41 | +14.14% | $22.39B | +0.18% |
| Q4 25 BEAT FY | $0.47 | $0.50 | +6.38% | $24.90B | +0.65% |
| FY Full Year | $1.64 | $1.66 | +1.52% | $94.83B | +0.17% |
| Q3 25 MISS | $0.56 | $0.50 | -10.35% | $28.10B | +5.21% |
| Q2 25 MISS | $0.40 | $0.40 | -1.11% | $22.50B | +1.67% |
| Q1 25 MISS | $0.42 | $0.27 | -35.71% | $19.34B | -9.70% |
| Q4 24 MISS FY | $0.76 | $0.73 | -3.95% | $25.71B | -6.70% |
| FY Full Year | $2.48 | $2.42 | -2.47% | $97.69B | -1.85% |
| Q3 24 BEAT | $0.58 | $0.72 | +24.14% | $25.18B | -0.75% |
| Q2 24 MISS | $0.62 | $0.52 | -16.13% | $25.50B | +2.94% |