Tesla's Q1 Earnings: Software & Fleets Drive Growth

Teslas Q1 earnings showcase a significant surge in full self-driving supervised subscriptions, now at 1.28 million active users, a 51% increase from last year. Despite a modest 6% growth in vehicle deliveries to 358,000, services revenue skyrocketed 42% to $3.75 billion, driven by used cars, supercharging, parts, and merch. Gross margins climbed to 21.1%, up from 16.3% last year, with total gross profit jumping 50%. Free cash flow reached $1.44 billion, a stark contrast to last years $664 million. Teslas strategic shift towards software and fleets is evident, with capex expected to exceed $20 billion this year on AI and growth initiatives. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/89a1fb593b3b8760