AI English summary of an SEC filing — figures as filed
Tesla TSLATesla said total revenues for the 3 months ended March 31, 2024 were $21.30 billion, down $2.03 billion from a year earlier, and net income attributable to common stockholders was $1.13 billion, an unfavorable change of $1.38 billion from the same period last year.
Key points
AI summaryTesla said total revenues for the 3 months ended March 31, 2024 were $21.30 billion, down $2.03 billion from a year earlier, and net income attributable to common stockholders was $1.13 billion, an unfavorable change of $1.38 billion from the same period last year.
The company said its total automotive gross margin fell from 21.1% to 18.5% in the 3 months ended March 31, 2024. It cited changes in automotive sales revenue and cost of revenues, along with lower regulatory credits revenue, as factors.
Tesla said its energy generation and storage segment gross margin rose from 11.0% to 24.6% in the 3 months ended March 31, 2024. It attributed the $129 million (9%) decrease in the segment's cost of revenues to higher recognition of IRA manufacturing credits.
The company said net cash provided by operating activities for the 3 months ended March 31, 2024 was $242 million, down from $2.51 billion to $2.27 billion. Capital expenditures for the same period were $2.77 billion, up from $2.07 billion a year earlier.
Key figures
Quarter ended March 31, 2024
- Revenue
- $21.3B
- Operating income
- $1.2B
- Net income
- $1.1B
- EPS
- $0.34
- Gross profit
- $3.7B
- Operating cash flow
- $242M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Tesla QQ1 2024 revenue $21.30 billion, net income attributable to common stockholders $1.13 billion
Tesla said total revenues for the 3 months ended March 31, 2024 were $21.30 billion, down $2.03 billion from a year earlier, and net income attributable to common stockholders was $1.13 billion, an unfavorable change of $1.38 billion from the same period last year.
Source · Based on the MD&A text of the filing
Total automotive gross margin falls from 21.1% to 18.5%
The company said its total automotive gross margin fell from 21.1% to 18.5% in the 3 months ended March 31, 2024. It cited changes in automotive sales revenue and cost of revenues, along with lower regulatory credits revenue, as factors.
Source · Based on the MD&A text of the filing
Energy generation and storage gross margin rises from 11.0% to 24.6%
Tesla said its energy generation and storage segment gross margin rose from 11.0% to 24.6% in the 3 months ended March 31, 2024. It attributed the $129 million (9%) decrease in the segment's cost of revenues to higher recognition of IRA manufacturing credits.
Source · Based on the MD&A text of the filing
Operating cash flow $242 million, capital expenditures $2.77 billion
The company said net cash provided by operating activities for the 3 months ended March 31, 2024 was $242 million, down from $2.51 billion to $2.27 billion. Capital expenditures for the same period were $2.77 billion, up from $2.07 billion a year earlier.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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