This week, Tesla released their 2022 Q2 financial results and shareholders' letter.

Wall Street Consensus:
The expectations for this quarter were $16.521 billion in revenue and earnings of $1.81 per share. It seems like a rare decrease for Tesla due to the shutdown of Gigafactory Shanghai. Wall Street expected delivery of 300,000 vehicles.

Results:
The results beat Wall Street expectations in both revenue and earnings despite the tough quarter. There is $16,394 billion in revenue and earnings of $2.2 per share. Impressively, Tesla has managed to increase their cash position by $0.8B to $18.3B in the quarter. They delivered 250,000 vehicles instead of the projected 300,000.

Here is the full conference call:

Tesla Stated,

“We continued to make significant progress across the business during the second quarter of 2022. Though we faced certain challenges, including limited production and shutdowns in Shanghai for the majority of the quarter, we achieved an operating margin among the highest in the industry of 14.6%, positive free cash flow of $621M and ended the quarter with the highest vehicle production month in our history.”