After the second quarterly report, Tesla rose slightly. Musk said that Tesla’s problem was insufficient production
Tesla released its financial report for the second quarter of 2022, with revenue of $16.9 billion in the second quarter, a year-on-year increase of 42%; net profit was $2.3 billion, exceeding market expectations.
The financial report shows that Tesla’s new factories in Berlin-Brandenburg and Austin continued to ramp up production capacity in the second quarter, and the super factory in Berlin-Brandenburg reached a production of more than 1,000 vehicles a week, while achieving 1,000 vehicles in this quarter. Positive gross margins; first 4680-cell nuclear battery pack vehicles from Austin plant have also been delivered to U.S. consumers; solar installations are at their highest level in four years. Tesla said it will continue to invest in expanding factory capacity to maximize product volume, focusing on continuing to break records in the second half of 2022.
Tesla financial summary, source: Tesla 2022 Q2 financial report
Before Tesla released its earnings report, as of the close of U.S. stocks on July 20, Tesla closed up 0.80% at $742.50. The stock price has fallen 30% so far this year, while the S&P 500 index has fallen about 17% over the same period.
During the earnings call, Musk revealed some of his views on macroeconomic trends, and he believes inflation will likely decline by the end of the year. “But at the same time, he has reservations about his forecast due to various uncertainties. At the same time, Musk believes that the shrinking demand for electric vehicles does not pose a threat to Tesla, and Tesla’s problem is insufficient production.
Original title: After the second quarterly report, Tesla rose slightly. Musk said that Tesla’s problem was insufficient production