Tesla Q2 reported earnings results: grows revenue 42%, but automotive margins decline

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Tesla reported earnings after the bell. Here are the results. Stock is up about 4%.

Earnings per share (EPS): $2.27 (adjusted) vs $1.81 expected, according to Refinitiv

Revenue: $16.93 billion, vs. $17.1 billion expected, according to Refinitiv

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Early this month, Tesla reported vehicle deliveries of 254,695 electric cars for the period ending June 30, 2022, showing 27% growth from the year-ago quarter, but an 18% decrease sequentially. Deliveries are the closest approximation of sales Tesla discloses. Its Model 3 and Model Y vehicles comprised 93% of those deliveries.

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Russia’s brutal invasion of Ukraine and Covid outbreaks in China exacerbated ongoing semiconductor and parts shortages, along with other supply chain snags. Covid restrictions in Shanghai forced Tesla to temporarily suspend or limit production at its factory there during the second quarter of 2022.



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