Tesla Q2 2024 revenue is $25.5B, up 2% yoy.
Contributors to the increase revenue are:
- Energy Generation and Storage, Revenue $3.014B +100% Yoy
- Cybertruck deliveries. Production 3x sequentially. Profitability targeted end of year.
- Regular credit revenue
- Growth in Service, Revenue $2.608B +21% YoY
- Automotive revenue $19.878B, -7% YoY
Hurting revenue is
- reduced ASP for S3XY, low interest financing
- drop in S3XY deliveries
- foreign exchange rate impact
Operating income decreased 33% to $1.6B.
- restructuring charges
- reduced ASP S3XY
- drop in S3XY deliveries
- increase in AI operating expenses of $0.6B
Cash
Total cash at end of Q2 is $30.7B. up $3.9B. free cash flow $1.3B and inventory dropped $1.8B.
AI
Gigafactory Texas south expansion datacenter progressing. Photo in slidedeck shows glass installed. Planed to have capacity for 90,000 H100 GPU equivalent. Currently they have about 35,000 equivalent H100.
Outlook
New vehicles on track for production 1st half 2025 using hybrid new and current platform
Robotaxi to be built using unboxing manufacturing method
Energy Generation/Storage business growth to be strong than automotive