But the stock surged 13.3 percent in after-hours trading after VD Elon Musk said that the production of new affordable Tesla-cars could start as early as 2025, which is earlier than expected.
Turnover fell 8.7 percent to $21.30 billion (23.33). The outcome can be compared with the Factset analyst consensus which was 22.22.
The number of cars delivered decreased by 9 percent to 386,810 units (422,875).
The number of manufactured cars was 2 percent less to 433,371 units (440,808).
Adjusted ebitda result amounted to $3.39 billion (4.27), with an adjusted ebitda margin of 15.9 percent (18.3).
Adjusted earnings per share were 0.45 dollars (0.85), expected was 0.49.
May start production in 2024
During the report call, Musk said the company plans to start manufacturing new models in early 2025, “if not late this year,” after previously expecting to start production in the second half of 2025. Musk also highlighted Tesla’s investments in AI infrastructure.
At the same time, Tesla was pessimistic about its outlook for 2024. The company writes in the report that “the volume growth rate may be significantly lower than the growth rate achieved in 2023.”
Separately, it said the company is laying off 3,332 people in California and 2,688 in Austin as part of a restructuring announced last week. The notice comes from the union WARN, Worker Adjustment and Retraining Notification, according to CNBC.
In 2021, Tesla moved its headquarters to Austin from Palo Alto, California.
Before the rally in after-hours trading Tuesday night, Tesla shares were down more than 40 percent this year.
| Net sales | 21.30 | 22,22 | -4.1% | 23.33 | -8.7% |
| Adjusted EBITDA | 3.39 | 4.27 | -20.6% | ||
| Adjusted earnings per share, USD | 0.45 | 0.49 | -8.2% | 0.85 | -47.1% |
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