Tesla grows revenue 42%, but automotive margins decline
Publishing timestamp: 2022-07-20 19:36:04
Summary
Tesla reported Q2 earnings slightly above expectations, with automotive margins impacted by inflation and competition for EV components. The company's new factories in Berlin and Texas are ramping up production, but facing challenges. Musk discussed the sale of Bitcoin holdings, inflation concerns, and the potential for lower prices on electric cars. Tesla remains optimistic about future growth despite ongoing supply chain issues.
Sentiment: MIXED
Tickers: TSLA,
Keywords: business news, tesla inc, breaking news: earnings, earnings, germany, technology, breaking news: technology, autos, climate, elon musk, transportation,
Source: https://www.cnbc.com/2022/07/20/tesla-tsla-earnings-q2-2022-.html