- EPS $0.91 versus $0.82 expected
- Revenues $24.93 billion versus expected $24.48 billion
- Gross margins 18.2% versus 16.9% expected
The company is prioritizing cost reduction and the development of new products. They forecast to maintain a long-term 50% Compound Annual Growth Rate (CAGR) with around 1.8 million units for FY23. Additionally, the company confirms that the production of the Cybertruck is on schedule to commence later this year at their Gigafactory in Texas.
Tesla shares are trading at $294.70 up 1.20%. That is up from $291.26 close (4:18 PM ET)
