Tesla 2Q23: Patience is a Virtue

Numbers came in better than feared. But it doesn't matter much anyway. Markets have their eyes on an exciting horizon and are looking past current challenges.

Today, Tesla announced their 2Q23 earnings. It was a solid beat against unambitious expectations. $24.9bn revenues were $300m ahead of consensus. $0.91 EPS was $0.11 ahead. Automotive and Services drove this beat, while Energy came in below expectations.

The stock has not taken this earnings release well. It finished after-hours trading down 4% to $279. …