Hey everybody, we're out. Now we're here. We just got Tesla's Q2 2021 earnings report

and shareholder letter and wow. The results are phenomenal. I'm extremely impressed with

what Tesla has been able to accomplish in the second quarter. So we're going to quickly

go through just the financial results. We'll look at a couple of takeaways from the shareholder

letter as well. And then we are going to segue into the earnings call afterwards. So

there will be a different link for that down in the show notes, but we'll get this out

before then. So right off the bat, let's just look at some of the numbers here. I'll

shift over to Excel and we can see how Tesla's actual compared to the analyst consensus as

well as the numbers that I was forecasting. So deliveries, no surprise there came in right

as we expected them to as they usually do automotive sales. Tesla significant beat here

versus what I was expecting and versus what analysts were expecting. 3% above my levels,

2% above the analyst consensus. That was driven by better actual average selling prices

because as you can see here, regulatory credits, which we talked about in the preview, I've

consistently been forecasting those too high. This time I forecast them to, sorry, I forecast

them too low previously. This time I forecast them too high. So I was at 500 million. Tesla

reported 354 million, meaning non automotive sales, excluding regulatory credits was way,

higher than what I had expected, meaning average selling prices were much better than what

I had predicted. Same thing here with energy, Tesla beating my expectations by 26% analyst

consensus by 39% driven by just greater, they say greater recognition of mega pack sales

this quarter. So if we scroll down here, we can see that Tesla delivered about 1.3 gigawatt

hours of energy storage, second highest ever, and significantly up quarter over quarter

about three times what Tesla did in Q1 and quite a bit higher than my expectation as

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