Tesla Q2 2023 Update [pdf]

The most closely look at line is the EBITDA margin, given the drastic price cut by Tesla in Q2 this year. Margin drop from 22.4% to 18.4% YoY. Not fantastic but better than analysts' estimate.

Operating margin dropped to 9.6% from 14.6% YoY. Not great.

Earning beats estimate by $0.91/share vs $0.80/share. Better than 2022Q2's 0.76 though.

Production rate YoY growth is 86%, from 258,580 to 479,700.

What I find more interesting is the FX impact of $0.6bil. Since China's renminbi is so weak, you would think Tesla would gain from China's export; but instead it lost money on FX.