[HN Gopher] Tesla Q3 2024 Financial Results [pdf]
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Tesla Q3 2024 Financial Results [pdf]
Author : mfiguiere
Score : 15 points
Date : 2024-10-23 20:14 UTC (2 hours ago)
(HTM) web link (digitalassets.tesla.com)
(TXT) w3m dump (digitalassets.tesla.com)
| chollida1 wrote:
| Looking forward to:
|
| - cheaper car announcement
|
| - something concrete on robotaxi, not likely
|
| - current model refresh, they are getting old
|
| Numbers:
|
| - Q3 EPS $0.72, Est $0.60
|
| - Q3 Rev $25.18B, Est $35.43B
|
| - so slight top line miss but nice bottom line beat
|
| - Automotive gross margis of 17.1%, Est 14.9%
|
| - I think higher gross margins are becaus peopel are buying their
| software( FSD and smart summon)
|
| - Second highest quarter for regulatory credit revenue, neat way
| for the government to subsidize a car manufacturer without
| subsidizing them
|
| - still behind last years sales numbers
|
| - Cybertruck has reached profitablility
|
| - more than 100,000 powerwalls enrolled as virutal power plants
| currently
|
| Interesting Notes:
|
| - next gen platform should get about 5.5 miles/kWh, for context
| Lucid currently has the most efficient drive train around 5
| miles/kWh( by lucid's claim)
|
| - supposedly next gen cheaper car in late 2025
|
| - nothing other than lip service to robo taxi
|
| - "We deployed and are training ahead of schedule on a 29k H100
| cluster at Gigafactory Texas - where we expect to have 50k H100
| capacity by the end of October."
|
| - note: check which company owns that server farm
|
| - after laying off the supercharger team, that network somehow
| grew 22% YoY
|
| Two other notes that people might find interesting....
|
| > "According to Bernstein analyst Toni Sacconaghi, Tesla's core
| electric-vehicle business is likely worth less than $200 billion,
| suggesting its market capitalization reflects a value of about
| $600 billion for other endeavors, such as the robotaxi and the
| Optimus humanoid robot. "
|
| The DOJ has just informed Elon that paying voters to register may
| be illegal.
| ClassyJacket wrote:
| The Model Y needs the same refresh the Model 3 got. Strange
| they haven't announced it yet. I suppose it just takes a while
| to change over a production line?
|
| As an Australian I'm really looking forward to getting
| automation features like Actually Smart Summon outside the US.
| And hopefully a subscription for it, instead of a one time
| 5000$ fee that then can't ever be transferred to a future car.
| You'd have to be dumb to buy it in its current form. Making
| that more reasonable will be a way they can immediately extract
| more money out of me. As long as the price is reasonable, and
| not bonkers which it sadly probably will be.
| pedalpete wrote:
| Apparently they are in test production already [1], but don't
| want to announce and damage current sales of Y.
|
| The other rumour is that they are running test production in
| Shanghai with the plan to roll-out full production
| consecutively across Shanghai, Texas, and Berlin. This is
| unlike the Model 3, which saw a delayed roll-out in the US.
|
| 1 - https://www.carsguide.com.au/car-news/updated-2025-tesla-
| mod...
| eightysixfour wrote:
| I believe the refresh is called "Juniper" for the Model Y.
| And yes, it takes a lot to move it between lines.
| Sohcahtoa82 wrote:
| > - something concrete on robotaxi, not likely
|
| Nor will you see one for another couple years, minimum.
|
| > - current model refresh, they are getting old
|
| Model 3 just got a refresh a few months ago. Agreed that Model
| S/X are due, though.
|
| > - supposedly next gen cheaper car in late 2025
|
| Which likely actually means mid 2027.
| toomuchtodo wrote:
| Model Y refresh "Juniper" is imminent, a few have already
| rolled off the factory line.
| fastball wrote:
| Is RoboTaxi not Next Gen Platform?
| bryanlarsen wrote:
| > - cheaper car announcement
|
| A cheaper car announcement would have a strong Osbourne effect
| on the 3. I doubt they're going to announce much until it's
| close to shipping.
| greenthrow wrote:
| Musk did announce there's no such thing coming. Only
| robotaxi.
| greenthrow wrote:
| How much of the supercharger growth was stuff that was already
| in progress or done prior to the layoffs? How big would the
| growth have been without the layoffs? They did hire some amount
| of the team back.
|
| Also Tesla is way behind on V4 (high voltage) superchargers.
| There are only dispensers installed. Zero actual V4 charging
| cabinets. Which means Cybertruck owners still can't get full
| speed at Tesla superchargers. If things continue as they are
| Tesla will let their monopoly on reliable high speed charging
| slip through their fingers.
|
| Lastly, Musk was very clear there is no next gen affordable car
| coming other than robotaxi.
| amluto wrote:
| This gets very awkward, considering that the robotaxi
| apparently will not be compatible with any existing chargers.
| andrewmcwatters wrote:
| Probably not the appropriate thread for this, but as a former
| Audi owner who went to a 2022 Toyota Corolla with openpilot, any
| personal recommendations here from Hacker News reader Tesla
| owners?
| pazimzadeh wrote:
| > We have sufficient liquidity to fund our product roadmap, long-
| term capacity expansion plans and other expenses. Furthermore, we
| will manage the business such that we maintain a strong balance
| sheet during this uncertain period.
|
| What's about to happen?
| FactKnower69 wrote:
| >In Q3, we released the 12.5 series of FSD (Supervised) 1 with
| improved safety and comfort thanks to increased data and training
| compute, [...] We deployed and are training ahead of schedule on
| a 29k H100 cluster at Gigafactory Texas - where we expect to have
| 50k H100 capacity by the end of October.
|
| Literally laughed out loud seeing the phrase "ahead of schedule"
| in a section about FSD
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