🔹 Total Revenue: $22.50B (Est. $22.64B) 🔴; DOWN -12% YoY
🔹 Adj. EPS: $0.40 (Est. $0.42) 🔴; DOWN -23% YoY
🔹 Gross Margin: 17.2% (Est. 16.5%) 🟢; DOWN -71 bps YoY
Segment Revenue
🔹 Automotive Revenue: $16.66B; DOWN -16% YoY
🔹 Energy Generation & Storage: $2.79B; DOWN -7% YoY
🔹 Services & Other: $3.05B; UP +17% YoY
Operational Metrics
🔹 Operating Income: $0.92B; DOWN -42% YoY
🔹 Operating Margin: 4.1%; DOWN -219 bps YoY
🔹 Adjusted EBITDA: $3.40B; DOWN -7% YoY
🔹 Free Cash Flow: $146M; DOWN -89% YoY
🔹 Total Deliveries: 384,122; DOWN -13% YoY
🔹 Total Production: 410,244; Flat YoY
🔹 Megapack Deployed: First deliveries from Shanghai
🔹 Global Vehicle Inventory: 24 days; UP from 18 last year
Outlook
🔸 Volume growth outlook impacted by global tariffs, policy changes, and macro uncertainty.
🔸 Tesla expects to fund roadmap and expansion while maintaining a strong balance sheet.
🔸 AI, software, and fleet monetization expected to drive future profits beyond hardware margins.
🔸 Affordable EV model production on track for 1H25; Cybercab Robotaxi targeting 2026 volume launch with “unboxed” manufacturing.
CEO Commentary
🔸 “Q2 2025 marks a seminal point—Tesla is transitioning from EV leader to AI and robotics leader.”
🔸 “Launched first Robotaxi service in Austin, including autonomous delivery of Model Y.”
🔸 “FSD (Supervised) continues to advance with planned launches in Europe and China pending approvals.”
🔸 “Energy storage deployments hit a 12th consecutive record on TTM basis.”
🔸 “Despite macro headwinds, we remain focused on scaling autonomy, energy, and robotics.”
