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.
