Tesla Earnings Day: TSLA Upgraded Amid Cybertruck Focus and Strategic Price Cuts
Tesla reported better-than-expected Q2 profits, with a 20% increase in earnings per share and a 47% increase in revenue. However, gross margins remained below the targeted 20% "floor" due to vehicle price cuts and discounts. Analysts expressed concerns about gross margins, but expect them to improve in the coming quarters. Tesla's global vehicle inventory increased by 300% compared to last year. The company also confirmed that the Cybertruck is on track for initial production later this year. Tesla reported record global deliveries in Q2, surpassing Wall Street forecasts.
