Hey everybody Rob now we're here happy Tesla earnings day I did do live reaction videos

to both the shareholder letter and then to the earnings call as well I will put the links

for those in the description but I did just want to record a quick summary episode here

and also paste my reaction to the earnings call in after those thoughts but just wanted

to make this a little bit easier for those that don't want to sift through that you know

40 minute video or so so looking at the numbers the Tesla reported definitely very happy with

the quarter total sales came in at 17.7 billion dollars I was at about 17.25 so about 3% below

what Tesla actually ended up reporting that means they delivered higher average selling prices

than what I expected meaning the mix of standard range model Y in China was not as detrimental

as what I had forecasted so definitely happy to see that automotive gross profit was only a little

bit higher though even with that huge revenue beat so the gross margins were quite up to what I

had forecast automotive gross margin x credits came in at 29.2% I was at 29.7 so even with higher average

selling prices Tesla had a little bit lower margin than what I had forecasted so that's probably

the only area of this report that I'm even a little bit disappointed in but as we had talked about

in the preview there are a lot of costs associated sort of as one time things mq4 so it's not like

it's a bad number just not quite up to what I had expected or hoped for that being said it was still

up 40 basis points sequentially so still good progress just a little bit less progress than what we

have seen in q1 through q3 for example so that put gross profit a little bit a little bit above where

I had forecast but I would have expected more based on the revenue number total gross margin then

coming in at 27.4% versus my forecast 27.8 but that did beat analyst expectations they were at 26.9

so across the board so far gross margin profit revenue all beats to consensus at this point

getting into operational expenses then these did come in quite a bit higher than what I had forecast

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