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Major US electric vehicle (EV) company $Tesla (TSLA.US)$Financial results for the fiscal year ending January to March 2024 (1st quarter) were announced after local closing on the 23rd. Tesla's sales and profits fell short of expectations for 3 consecutive quarters, and sales fell for the first time in 4 years, the biggest drop in the past 12 years. Profits were sluggish, and free cash flow was negative for the first time since COVID-19. The company has repeated the pessimistic outlook that the growth in automobile sales volume this year will be “significantly lower,” but it is assumed that development of cheaper models will be accelerated and investment in AI will be strengthened as early as next year, and details will be announced on 8/8. Also, sales of the humanoid robot “Optimus (Optimus)” are expected by the end of next year.
Despite the fact that sales and profits fell short of expectations, and the company maintained guidance on growth in automobile production and car deliveries in 2024 while “drastically lowered.”Policy to hasten the introduction of models that are easy to buyIt was revealed and “defeated” reports that development of the Model 2 was stopped a few days ago. Tesla's stock price is overtime trading13% at one timeIt has skyrocketed recently.
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Despite the fact that sales and profits fell short of expectations, and the company maintained guidance on growth in automobile production and car deliveries in 2024 while “drastically lowered.”Policy to hasten the introduction of models that are easy to buyIt was revealed and “defeated” reports that development of the Model 2 was stopped a few days ago. Tesla's stock price is overtime trading13% at one timeIt has skyrocketed recently.
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Translated
![[Financial Summary] Tesla to introduce models cheaper than the biggest decline in sales in the past 12 years by early 25](https://sgsnsimg.moomoo.com/sns_client_feed/181250687/20240424/85e775257a86ef4f087fc0a4c3ad0122.png/thumb?area=105&is_public=true)
![[Financial Summary] Tesla to introduce models cheaper than the biggest decline in sales in the past 12 years by early 25](https://sgsnsimg.moomoo.com/sns_client_feed/181250687/20240424/1713914409076-169536c651.png/thumb?area=105&is_public=true)
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Good morning to all moomoo users!
Here are the key points of this morning's first report.
● [Tokyo Stock Exchange Rate Forecast Range] 37,500 yen - 38,000 yen (closing price 37,552 yen 16 sen on the 23rd)
● The yen hit a low again for the first time in about 34 years against the dollar - heightened sense of caution against intervention
● US comprehensive PMI, lowest level this year - employment shrinks for the first time since 2020
● From January to March, US Tesla saw a decline in sales and profit for the first time in 4 years, and EV sales declined worldwide
● Tesla accelerates launch of models that are easy to obtain, rising 11% after hours even with poor financial results
● GM rose more than 5% outside of settlement hours
● US TI shows bullish sales outlook - suggests easing of sluggish semiconductor demand
● Visa profits increased 17% from January to March, exceeding market expectations - card spending increased
● French luxury goods Kering anticipates sharp decline in profit in the first half - Chinese wealthy people refrain from buying Gucci
— MooMoo News Kathy
Market Overview
In the US stock market on the 23rd, the NY Dow Jones Industrial Average continued to rise for 4 days to 38,503 dollars 69 cents, 263 dollars 71 cents higher than the previous business day. The Nasdaq Composite Stock Price Index was 245.33...
● [Tokyo Stock Exchange Rate Forecast Range] 37,500 yen - 38,000 yen (closing price 37,552 yen 16 sen on the 23rd)
● The yen hit a low again for the first time in about 34 years against the dollar - heightened sense of caution against intervention
● US comprehensive PMI, lowest level this year - employment shrinks for the first time since 2020
● From January to March, US Tesla saw a decline in sales and profit for the first time in 4 years, and EV sales declined worldwide
● Tesla accelerates launch of models that are easy to obtain, rising 11% after hours even with poor financial results
● GM rose more than 5% outside of settlement hours
● US TI shows bullish sales outlook - suggests easing of sluggish semiconductor demand
● Visa profits increased 17% from January to March, exceeding market expectations - card spending increased
● French luxury goods Kering anticipates sharp decline in profit in the first half - Chinese wealthy people refrain from buying Gucci
— MooMoo News Kathy
Market Overview
In the US stock market on the 23rd, the NY Dow Jones Industrial Average continued to rise for 4 days to 38,503 dollars 69 cents, 263 dollars 71 cents higher than the previous business day. The Nasdaq Composite Stock Price Index was 245.33...
Translated
![[Morning Report] Yen hits low against the dollar for the first time in about 34 years Tesla accelerates launch of a model where it is easy to seek stock price increases outside of hours even with dull financial results](https://sgsnsimg.moomoo.com/sns_client_feed/181250687/20240424/f66a87989b46d50e31b21dfa065eb599.png/thumb?area=105&is_public=true)
![[Morning Report] Yen hits low against the dollar for the first time in about 34 years Tesla accelerates launch of a model where it is easy to seek stock price increases outside of hours even with dull financial results](https://sgsnsimg.moomoo.com/sns_client_feed/181250687/20240424/77641172057dc269e6cda377a536c092.png/thumb?area=105&is_public=true)
![[Morning Report] Yen hits low against the dollar for the first time in about 34 years Tesla accelerates launch of a model where it is easy to seek stock price increases outside of hours even with dull financial results](https://sgsnsimg.moomoo.com/sns_client_feed/181250687/20240424/1713914409076-169536c651.png/thumb?area=105&is_public=true)
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Major US EVs $Tesla (TSLA.US)$Is4/24 5:00 Japan timeupon2024 Q1 financial results are scheduled to be announced。
According to market consensus, Tesla's first quarter sales compared to the same period last year$22.521 billion, down 3.46%, EPS compared to the same period last year$0.44, down 39.48%It is expected.
Tesla in 2024 had a rough start. A decrease in the number of car deliveries was expected to drag profits, and intentions such as personnel cuts due to sluggish demand and intensifying competition were also conveyed. Due to a series of bad news in recent months, Tesla's stock price has fallen by nearly 40% year to date, making it the worst performing major stock this year.
Due to the decline in demand for electric vehicles in general and the intensification of competition from China, the company's quarterly profit declined 40% from the same period last year in the 23/Q4 financial results reported in January, and sales growth also stopped at 3%, which is lower than expected. Also, the number of car deliveries in the first quarter, which was revealed at the beginning of the month, declined sharply compared to the same period last year, which is a nightmare figure for the company. The EV giants are facing a difficult year.
Slowing EV demand and shrinking profit margins
The number of car deliveries for the first quarter announced by Tesla on the 2nd of this monthSame year as last year...
According to market consensus, Tesla's first quarter sales compared to the same period last year$22.521 billion, down 3.46%, EPS compared to the same period last year$0.44, down 39.48%It is expected.
Tesla in 2024 had a rough start. A decrease in the number of car deliveries was expected to drag profits, and intentions such as personnel cuts due to sluggish demand and intensifying competition were also conveyed. Due to a series of bad news in recent months, Tesla's stock price has fallen by nearly 40% year to date, making it the worst performing major stock this year.
Due to the decline in demand for electric vehicles in general and the intensification of competition from China, the company's quarterly profit declined 40% from the same period last year in the 23/Q4 financial results reported in January, and sales growth also stopped at 3%, which is lower than expected. Also, the number of car deliveries in the first quarter, which was revealed at the beginning of the month, declined sharply compared to the same period last year, which is a nightmare figure for the company. The EV giants are facing a difficult year.
The number of car deliveries for the first quarter announced by Tesla on the 2nd of this monthSame year as last year...
Translated
![[Financial Results Preview] Tesla Signs of Strategic Change What is the driving force behind future growth?](https://sgsnsimg.moomoo.com/sns_client_feed/181250687/20240419/69cc4314ce7831c4808e04d8992976c3.png/thumb?area=105&is_public=true)
![[Financial Results Preview] Tesla Signs of Strategic Change What is the driving force behind future growth?](https://sgsnsimg.moomoo.com/sns_client_feed/181250687/20240422/c021599c6f2aaaebf6a498c7aafd9ca7.png/thumb?area=105&is_public=true)
![[Financial Results Preview] Tesla Signs of Strategic Change What is the driving force behind future growth?](https://sgsnsimg.moomoo.com/sns_client_feed/181250687/20240419/ddcbdec8ea6b261b24f6095126f180f8.png/thumb?area=105&is_public=true)
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