Drop in company’s gross margins in first quarter earnings signal price cuts could hurt financials with share prices taking a tumble
Tesla narrowly missed Wall Street expectations in the first quarter of 2023 and gross margins dropped significantly in a signal that a series of price cuts could hurt the company’s financials. The company posted a revenue of 85 cents a share on $23.33b total revenue, just below analysts’ prediction of 86 cents a share on $23.34b.
Gross margins, a figure that investors are paying close attention to this quarter, dropped from 29.1% to 19.3% year-over-year after the company rolled out a series of recent price cuts.
Continue reading…Drop in company’s gross margins in first quarter earnings signal price cuts could hurt financials with share prices taking a tumbleTesla narrowly missed Wall Street expectations in the first quarter of 2023 and gross margins dropped significantly in a signal that a series of price cuts could hurt the company’s financials. The company posted a revenue of 85 cents a share on $23.33b total revenue, just below analysts’ prediction of 86 cents a share on $23.34b.Gross margins, a figure that investors are paying close attention to this quarter, dropped from 29.1% to 19.3% year-over-year after the company rolled out a series of recent price cuts. Continue reading…