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Tesla revenue up but automotive margins decline – here’s what it means

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4 years ago

July 21, 2022

Tesla has reported its quarterly earnings after the bell on Wednesday, with the results sending stock slightly higher, but it’s not all good news

The EV maker also saw a decline in automotive margins.

They came in at around 27 per cent, down from almost 33 percent last quarter, with experts blaming inflation and greater competition for key components required for electric vehicles.

Automotive revenue was the biggest earner, bringing in $14.6 billion of the company’s total revenue.

Just under 1.5 billion came from services, while $866 million was made through the company’s energy segment.

Tesla generated $344 million in automotive regulatory credits revenue, which is a $10 million or nearly 3% decline from the same period in 2021.

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William Howard

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.