On July 23, 2024, Tesla, Inc. reported its financial results for the second quarter of 2024. The company posted its Second Quarter 2024 Update on its website, detailing a GAAP operating income of $1.6 billion after restructuring and other charges of $0.6 billion, and a GAAP net income of $1.5 billion. Non-GAAP net income for the quarter was $1.8 billion. Tesla highlighted record quarterly revenues despite challenging operating conditions, with significant growth in its Energy Storage business, which saw a record 9.4 GWh of deployments. The company also experienced a rebound in vehicle deliveries and recognized record regulatory credit revenues. Tesla's cash and investments increased by $3.9 billion to $30.7 billion. The report included updates on vehicle production and deliveries, with a notable increase in Cybertruck production, now the...Show More

On July 23, 2024, Tesla, Inc. reported its financial results for the second quarter of 2024. The company posted its Second Quarter 2024 Update on its website, detailing a GAAP operating income of $1.6 billion after restructuring and other charges of $0.6 billion, and a GAAP net income of $1.5 billion. Non-GAAP net income for the quarter was $1.8 billion. Tesla highlighted record quarterly revenues despite challenging operating conditions, with significant growth in its Energy Storage business, which saw a record 9.4 GWh of deployments. The company also experienced a rebound in vehicle deliveries and recognized record regulatory credit revenues. Tesla's cash and investments increased by $3.9 billion to $30.7 billion. The report included updates on vehicle production and deliveries, with a notable increase in Cybertruck production, now the best-selling EV pickup in the U.S. Tesla's AI initiatives progressed, with a focus on Full Self-Driving (FSD) software and the deployment of its Optimus robot in one of its facilities. The company's outlook for 2024 suggests a lower vehicle volume growth rate compared to 2023, with energy storage deployments and revenue expected to outpace the Automotive business.