Tesla Q1 Highlights so far (Patreon)

Revenue Growth

The company made $19.3 billion in total revenue, which is 9% more than last year. Most of this came from car sales, which brought in $14 billion (up 20%). The energy business made $2.7 billion (up 67%), and services made $2.6 billion (up 15%).

Gross Profit

The company earned $3.2 billion after subtracting the cost to make its products. This is a 16% profit margin, which is 1% lower than last year, meaning profit from sales dropped a little.

Operating Expenses

The company spent $2.8 billion on running the business. Research and development (R&D) cost $1.4 billion (7% of revenue, 2% more than last year), and selling, general, and administrative (SG&A) costs were $1.3 billion (6% of revenue, same as last year).

Operating Profit

The company made $480 million in profit from its operations, which is just 2% of revenue. This is 3% less than last year, showing a big drop in profit from running the business.

Net Profit

Final profit was also $480 million (2% of revenue), which is 3% lower than last year. This was affected by $300 million in interest costs.

ENERGY BRIGHT SPOT

The energy business grew the most—up 67%. Revenue from regulatory credits went up 35% to $600 million. Even though car sales brought in the most money, they grew at a slower rate of 20%.

Production and Sales

The company made 363,000 vehicles (16% less than last year) and delivered 337,000 to customers (13% less), showing good growth despite factories being down for 4 to 6 weeks during the qtr.