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Does Tesla (TSLA) – Get a report CEO Elon Musk just sang his swan song? Buried in a presentation laden with new business for the company, Musk said he probably wouldn’t appear on earnings calls again, “unless I have something really important to say.”
So what does he say about the future of Tesla?
In a special episode of The street live, Jim Cramer was joined by Tesla Daily Tesla host and investor Rob Maurer to break down Tesla’s latest earnings report and what it means for the electric car maker going forward.
Watch Cramer and Maurer’s full interview live at 10:00 a.m.ET in the video below:
Start with the numbers
Tesla reported adjusted earnings of $ 1.45 per share on revenue of $ 11.96 billion, significantly exceeding consensus estimates of 98 cents and $ 11.3 billion, respectively.
The company reported earnings of $ 1.142 billion on a GAAP basis, marking the company’s first GAAP profit excluding regulatory credit sales, according to Tesla Daily.
“In the second quarter of 2021, we broke new notable records. We produced and delivered over 200,000 vehicles, achieved an operating margin of 11.0% and exceeded $ 1 billion in GAAP net income for the first time. of our history, ”Tesla said in his earnings release.
Regarding Bitcoin, Tesla said it suffered a $ 23 million write-down on its Bitcoin holdings during the quarter and that revenue from the sale of regulatory credits was valued at $ 354 million.
When trading opened on Tuesday, Tesla stock was up more than one percent to $ 664.77.
Semiconductors, supply chain and glass consumption?
As with the rest of the auto industry, Tesla noted an impact from the global semiconductor shortage. “Supply chain challenges, particularly global semiconductor shortages and port congestion, continued to be present in the second quarter,” the company said.
Watch: Tesla’s Daily Earnings Appeal Takeout
“With global vehicle demand at record levels, the supply of components will have a strong influence on the growth rate of our deliveries for the rest of the year,” Tesla added.
Now Cramer has told you once, twice and will probably tell you again, when it comes to Tesla it all comes down to the conference call.
When asked about the process of ramping up production, Musk noted that the supply chain has a particular challenge, especially as Tesla aims to launch its new factories.
Musk also described the semiconductor shortage as “quite difficult.”
Disclosure: Rob Maurer is long on TSLA stocks and derivatives.
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