Tesla Inc.
Tesla Reports Q2 2024 Financial Results with 2% Revenue Growth
Summary
On July 23, 2024, Tesla, Inc. reported its financial results for the quarter ended June 30, 2024. The company achieved total revenues of $25.5B, a 2% increase year-over-year (YoY). Despite facing a challenging operating environment, Tesla reported a GAAP operating income of $1.6B, a 6.3% operating margin. The company generated free cash flow of $1.3B, reflecting an inventory decrease of $1.8B and $0.6B in AI infrastructure capex. The full financial statements are furnished as Exhibit 99.1.
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About Tesla Inc.
Tesla Inc. is a leading manufacturer and innovator in the electric vehicle space, known for its cutting-edge technology and commitment to sustainable energy. As a pioneering force in the automotive industry, Tesla produces a range of electric vehicles (EVs), including sedans like the Model S, Model 3, and luxury SUVs such as the Model X and Model Y. Beyond automobiles, Tesla focuses on energy solutions through products like Solar Roof, solar panels, and energy storage systems with the Powerwall, Powerpack, and Megapack. Tesla plays a substantial role in the push towards reducing carbon emissions and advancing renewable energy. With a strong global footprint, the company is at the forefront of technological advancements in battery technology, autonomous driving, and artificial intelligence. The continuous expansion of its Supercharger network also supports sustainable transportation by providing accessible and efficient EV charging solutions worldwide. Founded in 2003 and headquartered in Palo Alto, California, Tesla is transformative in both the automotive and energy sectors, propelling the transition to greener technologies.
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