* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Thursday, September 4, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

    Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com

    Jenny Han Just Unveiled a Huge ‘The Summer I Turned Pretty’ Easter Egg That Changes Everything [SPOILER]

    Liam Payne’s Cousin Ross Harris Honors Late Singer With Emotional Song ‘Bones’ – yahoo.com

    Liam Payne’s Cousin Ross Harris Honors Late Singer with Emotional New Song ‘Bones

    Country music star apologizes after drunken show ends with cops taking him down: ‘I’m not OK’ – PennLive.com

    Country Music Star Apologizes After Drunken Show Ends in Police Intervention: ‘I’m Not OK

    Comanche Nation Entertainment closes casino near Devol – KSWO 7News

    Comanche Nation Entertainment Closes Casino Near Devol in Surprising Move

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    The Economist is hiring a science and technology correspondent – The Economist

    Exciting Opportunity: Become Our Next Science and Technology Correspondent!

    Blockchain lender Figure Technology seeks to raise up to $526M in IPO (FIGR:Pending) – Seeking Alpha

    Blockchain Lender Figure Technology Sets Sights on $526M in Thrilling IPO Launch

    New Technology from Ramsey Theory Group Brings Diagnostic Testing and Telehealth Directly into Patients’ Homes – Yahoo Finance

    Revolutionary Ramsey Theory Technology Delivers Diagnostic Testing and Telehealth Right to Your Doorstep

    China’s CATL sells stake in Finnish subcontract car manufacturer – Reuters

    China’s CATL Sells Stake in Finnish Auto Supplier in Strategic Move

    This Secret Technology Will Make The IPhone 17 Super Thin Air – VOI.ID

    How This Breakthrough Technology Will Make the iPhone 17 Incredibly Thin and Lightweight

    Gator football kicks off with excitement and new technology – WCJB | TV20

    Gator Football Kicks Off with Thrilling Action and Innovative Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

    Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com

    Jenny Han Just Unveiled a Huge ‘The Summer I Turned Pretty’ Easter Egg That Changes Everything [SPOILER]

    Liam Payne’s Cousin Ross Harris Honors Late Singer With Emotional Song ‘Bones’ – yahoo.com

    Liam Payne’s Cousin Ross Harris Honors Late Singer with Emotional New Song ‘Bones

    Country music star apologizes after drunken show ends with cops taking him down: ‘I’m not OK’ – PennLive.com

    Country Music Star Apologizes After Drunken Show Ends in Police Intervention: ‘I’m Not OK

    Comanche Nation Entertainment closes casino near Devol – KSWO 7News

    Comanche Nation Entertainment Closes Casino Near Devol in Surprising Move

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    The Economist is hiring a science and technology correspondent – The Economist

    Exciting Opportunity: Become Our Next Science and Technology Correspondent!

    Blockchain lender Figure Technology seeks to raise up to $526M in IPO (FIGR:Pending) – Seeking Alpha

    Blockchain Lender Figure Technology Sets Sights on $526M in Thrilling IPO Launch

    New Technology from Ramsey Theory Group Brings Diagnostic Testing and Telehealth Directly into Patients’ Homes – Yahoo Finance

    Revolutionary Ramsey Theory Technology Delivers Diagnostic Testing and Telehealth Right to Your Doorstep

    China’s CATL sells stake in Finnish subcontract car manufacturer – Reuters

    China’s CATL Sells Stake in Finnish Auto Supplier in Strategic Move

    This Secret Technology Will Make The IPhone 17 Super Thin Air – VOI.ID

    How This Breakthrough Technology Will Make the iPhone 17 Incredibly Thin and Lightweight

    Gator football kicks off with excitement and new technology – WCJB | TV20

    Gator Football Kicks Off with Thrilling Action and Innovative Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Tesla offers handsome profit beat to quell worries on slipping margins

July 19, 2023
in Business
Tesla offers handsome profit beat to quell worries on slipping margins
Share on FacebookShare on Twitter

Tesla offers handsome profit beat to quell worries on slipping margins
© Reuters. FILE PHOTO: The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann/File Photo

By Akash Sriram and Hyunjoo Jin

(Reuters) -Tesla on Wednesday handily beat quarterly profit estimates and reported automotive gross margin in line with Wall Street expectations, signaling it was gaining ground in the electric-vehicle price war ignited by CEO Elon Musk.

Under pressure from increasing competition and an uncertain economy, Tesla (NASDAQ:) has slashed prices several times in the United States, China and other markets since late last year, and increased discounts and other incentives to reduce inventory.

This has pressured its industry-leading automotive gross margin, a closely watched indicator of the company’s financial health, but Musk has said Tesla would sacrifice margins to drive volume growth.

For instance, Tesla this year cut prices of its Model Y long-range version by a quarter to $50,490.

Tesla said in a statement on Wednesday it was focusing on reducing costs and on new product development, and that the “challenges of these uncertain times are not over.”

Automotive gross margin, excluding regulatory credits, fell to 18.1% in the second quarter from 19% in the first quarter, according to Reuters’ calculation. A year earlier it was 26%.

Tesla reported overall gross margin of 18.2% for the April-June period – the lowest in 16 quarters – compared with 19.3% for the first quarter.

“Multiple rounds of aggressive price cuts has put Tesla in a position of strength after building its EV castle and now is set to further monetize its success,” Wedbush analysts said in a note.

Shares of the Austin, Texas-based automaker were flat after the bell, following volatile trading just after the results were announced.

The company on Wednesday reiterated that it expects to achieve deliveries of around 1.8 million vehicles this year. The automaker had predicted in October it would sell every car it manufactured in the foreseeable future but in the second quarter it produced 13,560 more vehicles than it delivered. That number, though, was narrower than first-quarter figures.

Recently, a lack of new models has made it tougher for Tesla to take on rivals in China, where glitzier offerings from local players have weighed on demand.

Lower pricing, along with government tax breaks for EV buyers in the United States and elsewhere, drove Tesla’s deliveries to a record 466,000 vehicles in the April-July period globally, but ate in to its profitability.

Still, on an adjusted basis, Tesla earned 91 cents per share. Analysts had expected a profit of 82 cents per share, according to Refinitiv.

The company reported revenue in the April-June period of $24.93 billion, compared with estimates of $24.48 billion, according to Refinitiv data.

HIGHER COSTS

Tesla’s stock received a big boost this year after Ford Motor (NYSE:), General Motors (NYSE:) and a raft of other automakers and EV charging firms said they would adopt Tesla’s charging technology.

The company’s stock has risen 60% since the first such deal with Ford on May 25. So far this year it is up 138%, helped also by expanded federal credits for Model 3s and investor excitement over artificial intelligence.

The company said on Wednesday that lower raw-material costs and government tax credits helped reduce cost-per-vehicle but that it saw an increase in operating expenses driven by Cybertruck, AI projects, as well as the production ramp of 4680 battery cells that are key to making cheaper and compelling EVs.

Tesla said production of the long-delayed electric pickup Cybertruck remained on track for initial deliveries this year.

Musk introduced the pickup truck at a 2019 event but has pushed back production timing since then. Last year he cited shortages in sourcing components as the reason for delaying the Cybertruck launch into 2023.

Tesla said on Wednesday, “we have made notable progress on yield improvement of our 4680 cell production lines,” but did not elaborate on the yield and production volume.

In 2020, Musk unveiled a plan to produce Tesla’s own EV batteries called “4680” cells. But the carmaker has struggled to meet Musk’s targets for production and performance of the cells.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Investing.com – https://www.investing.com/news/economy/tesla-reports-sequentially-lower-quarterly-gross-margin-3129196

Tags: businessoffersTesla
Previous Post

Marketmind: China to keep rates on hold … for now

Next Post

Audit commission scrutinizes Land Transportation Office with over 1.7 license plates undelivered

Xi Parades Military Strength as Trump Accuses Him of Conspiring With Putin and Kim – The New York Times

Xi Unveils Military Strength as Trump Levels Accusations of Alliances with Putin and Kim

September 4, 2025
Trump tariffs and the Fed: Fate of U.S. economy may lie with the Supreme Court – Axios

How the Supreme Court Could Decide the Future of the U.S. Economy Amid Trump Tariffs and Fed Moves

September 4, 2025
ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

ITV Studios Unveils Exciting New Entertainment Label

September 4, 2025
RFK Jr. is spreading a reckless myth about SSRIs and mass shootings – MSNBC News

RFK Jr. Fuels Dangerous Myth Linking SSRIs to Mass Shootings

September 4, 2025
As U.S. Adversaries Bond in Beijing, Trump Grows Frustrated With Putin – The New York Times

As U.S. Rivals Forge Stronger Bonds in Beijing, Trump’s Frustration with Putin Reaches New Heights

September 4, 2025
When the crowds left, reefs came alive at Hanauma Bay – EurekAlert!

After the Crowds Disappeared, Hanauma Bay’s Reefs Burst Back to Life

September 3, 2025
Over 85 scientists say Energy Dept. climate report lacks merit – Reuters

More Than 85 Scientists Challenge the Credibility of Energy Department’s Climate Report

September 3, 2025
The secret of living forever? Science’s best answers so far – The Times

Unlocking Immortality: Science’s Most Promising Discoveries So Far

September 3, 2025
Style Spotlight: Paradise Valley City Lifestyle Drops September Issue – 12News

Discover the Vibrant Lifestyle of Paradise Valley in the New September Issue

September 3, 2025
The Economist is hiring a science and technology correspondent – The Economist

Exciting Opportunity: Become Our Next Science and Technology Correspondent!

September 3, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (805)
  • Economy (824)
  • Entertainment (21,704)
  • General (16,842)
  • Health (9,865)
  • Lifestyle (838)
  • News (22,149)
  • People (825)
  • Politics (831)
  • Science (16,034)
  • Sports (21,322)
  • Technology (15,804)
  • World (805)

Recent News

Xi Parades Military Strength as Trump Accuses Him of Conspiring With Putin and Kim – The New York Times

Xi Unveils Military Strength as Trump Levels Accusations of Alliances with Putin and Kim

September 4, 2025
Trump tariffs and the Fed: Fate of U.S. economy may lie with the Supreme Court – Axios

How the Supreme Court Could Decide the Future of the U.S. Economy Amid Trump Tariffs and Fed Moves

September 4, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version