Tesla’s (NASDAQ:TSLA) Q2 2024 earnings call comes on the heels of the company’s Q2 2024 Update Letter, which was released after the closing bell on Wednesday, July 23, 2024.
Tesla posted total revenues of $25.5 billion, with automotive revenues of $19.878 billion in the second quarter. The company also posted non-GAAP earnings per share of $0.52 and GAAP EPS of $0.42 for Q2. Tesla posted $1.6 billion GAAP operating income after restructuring charges of $600 million in the second quarter as well.
Q2 2024 Earnings Call starts in ~1.5h https://t.co/DnhM6ay60N— Tesla (@Tesla) July 23, 2024
The following are live updates from Tesla’s Q2 2024 earnings call. I will be updating this article in real-time, so please keep refreshing the page to view the latest updates on this story. The first entry starts at the bottom of the page.
17:30 CDT: That’s a wrap! Thanks for reading and following along with our Live Blog! ‘Til next quarter!
17:27 CDT: Potential Trump Presidency could end IRA, and would Tesla have negative implications if IRA is ended, an analyst asks. Musk mulls the question and says “It would have some impact, but it would be devastation to our competitors.” Musk believes getting rid of the IRA would have minimal impact on Tesla. He continues to hound the point that Tesla’s value is highly reliant on autonomy and says if an investor does not believe the company will solve self-driving, they should sell their stock.
17:18 CDT: Musk breaks down the ride-sharing platform, highlighting the advantages: the vehicle could be used 24/7, and could be a full-time member of the vehicle fleet or a part-time contributor. Vehicle owner will share revenues with Tesla directly.
Rollout questions from Pierre Ferragu of New Street Research are met with confusion from Musk. “Every car will be capable,” as Ferragu asked if the early rollout of Robotaxi would be geofenced and small-scale.
17:14 CDT: Musk says GM canceled its self-driving, pedal-less, wheel-less vehicle was canceled because “it’s not up to par.” He says GM blamed regulators instead of being transparent about their self-driving efforts. “GM can’t make it work.”
17:12 CDT: Musk says Supervised FSD will come to China, Europe, “and other countries” upon the release of v12.6. It will submit regulatory approval when those versions are rolled out
17:04 CDT: Alex Potter of Piper Sandler asks about FSD licensing — “Can you elaborate on the mechanics of how this would work?” Potter asks if it would be “plug-and-play” or would OEMs have to adopt Tesla platform.
Musk confirms hardware would have to be upgraded: cameras and gateway with cellular and Wi-Fi capability would be required. “…it will be several years before we see this in volume,” Musk says. The CEO also adds that disclosure would depend on who the OEM licensing FSD is, and a volume minimum would be required.
16:59 CDT: Ben Kallo of Baird asks about the automotive revenue balance and how it will be impacted by AI. Musk says Optimus will likely be more of a contributor to company revenue than all other parts of the business combined. Musk believes 22 million units of humanoid robots will be demanded by customers worldwide, with Optimus leading the way. “We have all the ingredients; I think we are unique in having all of the ingredients [when it comes to humanoid robots],” Musk said. He also mentions ARK Invest’s analysis when factoring in AI and robotics.
Gigafactory Mexico is “paused” until after the election. Tesla will ramp up production at its existing factories.
16:58 CDT: Musk says he doesn’t want to give any details about future vehicles after an analyst question because it could cannibalize near-term sales.
16:53 CDT: Musk says Grok will make its way into Tesla vehicles at some point.
16:52 CDT: Does Tesla feel it is cheating people from the joy of owning a Tesla because it doesn’t advertise? Simply put, no. More people in Q1, 66% of deliveries were to people who never had a Tesla before
16:51 CDT: Optimus accessories question gets a chuckle from Musk and Co. No real update given by the team.
16:49 CDT: Musk says NVIDIA’s execution is “impressive” as he talks about Dojo. More effort on Dojo is needed to ensure training capability needed, Musk says. “We do see a path to being competitive with NVIDIA with Dojo,” he adds. “We kind of have no choice because the demand for NVIDIA is so high; it’s obviously their obligation to raise the price of GPUs to whatever the market will bear…We’ve really got to make Dojo work, and we will.”
16:47 CDT: A question regarding the 4680 production cell ramp yields Tesla to reveal 51 percent more cell production in Q2 than Q1. More than 1400 Cybertrucks worth of 4680 cells each week. The first validation Cybertruck with the dry-cathode process has been built. Tesla says it’s on track to launch dry-cathode in Q4, lowering costs for widespread cell production.
16:42 CDT – Tesla’s CFO takes the stage. Like Musk, he also extended his thanks to Tesla’s team for pulling through in the second quarter. The executive highlighted that Tesla is offering extremely competitive finance rates worldwide, so the best time to buy a Tesla is right now.
He also emphasized the fact that Tesla’s vehicles are the most American cars on the market today. “We pride ourselves as a company with the most American-made cars.” He also noted that “Our focus is to provide the most compelling products at the most competitve price.”
16:39 CDT – The CEO noted that the Tesla Robotaxi is now planned for an unveiling on October 20. The delay in the vehicle’s unveiling is due to changes that he asked for the vehicle.
As for Optimus, Tesla expects several thousands of humanoid robots produced and performing useful tasks at the company’s facilities by next year. Optimus Version 1 will start limited production by next year, Musk estimated.
Musk also highlighted that Tesla Energy is growing at an incredible pace. Tesla Energy may also double or triple production with both the company’s Lathrop and Shanghai Megafactories.
16:35 CDT – Elon Musk takes the stage for his opening remarks. He acknowledges that there is now more competition in EV market. He also noted that competitors have rolled out discounts on EV prices, which has been a bit challenging for Tesla — but not in the long term.
Despite these challenges, Musk thanked the Tesla team for achieving record revenues this past quarter. The CEO noted that Tesla would not get too deep into its product road map in the earnings call, though he did note that a more affordable model unveiling is expected in the first half of 2025.
Musk also highlighted that FSD is seeing a lot of progress, with version 12.5 having 5x the parameters of 12.4. He encourages Tesla owners to try out FSD. “Full Self-Driving will be a massive demand driver,” Musk said.
16:30 CDT – Tesla’s Q2 2024 earnings call begins — on time(!) The company’s new IR Head takes the stage. Elon Musk and other Tesla executives are present.
16:26 CDT – And the music starts. Here we go! Or rather, the actual waiting starts now.
16:20 CDT – Tesla stock is down 4.27% as of writing. This is not a small drop by any means, though it is more tempered than the drops from previous quarters. As per Barron’s, Tesla shares have moved an average of 11% over the past four quarterly reports.
16:15 CDT – Hello, everyone, and welcome to our live blog of Tesla’s second quarter 2024 earnings call. Tesla’s second quarter results are quite mixed, with the company beating estimates for revenue but falling short of expectations in earnings per share. Tesla also reported $1.6 billion GAAP operating income in Q2 after restructuring charges of $600 million. Elon Musk and Tesla’s other executives would likely provide some context on the company’s Q2 results in the upcoming earnings call.
Here’s the livestream of Tesla’s Q2 2024 earnings call.
Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.
In a pointed message on X, Elon Musk warned that firms maintaining significant short positions in SpaceX over time face “very low” survival probability.
The statement comes amid post-IPO volatility for the rocket company, now trading under the ticker $SPCX.
The survival probability of firms who maintain a significant short position in SpaceX over time is very low
— Elon Musk (@elonmusk) July 17, 2026
Five weeks after what was described as the largest IPO in history, the stock had fallen roughly 30% from its peak above $2.6 trillion, briefly surpassing Microsoft and Amazon in market value. Short sellers celebrated gains of about $8.7 billion, but Musk’s reply underscores his long-term conviction.
The warning directly echoes a detailed bullish analysis arguing that Starship’s cost reductions could unlock a multi-trillion-dollar space economy. Projects ranging from solar power beamed from orbit and asteroid mining to orbital data centers and Mars terraforming were projected to create over $100 trillion in new market capitalization.
In this vision, SpaceX acts as the essential infrastructure provider, akin to AWS for cloud computing, capturing monopoly-like revenues from launches, crew transport, and data traffic across a rapidly expanding frontier.
This is far from the first time Musk has targeted short sellers. With Tesla, he has repeatedly framed persistent bears as destined for major losses. In July 2024, Musk declared that once Tesla achieves full autonomy and volume production of Optimus robots, “anyone still holding a short position will be obliterated. Even Gates,” referencing Microsoft co-founder Bill Gates’ reported short bets.
Elon Musk reveals what Tesla stock surge could do to Bill Gates
Earlier, in 2018, he taunted shorts that they had “about three weeks before their short position explodes,” a remark followed by sharp stock gains. Musk has also called short selling “value destroying” and once suggested it “should be illegal,” viewing it as betting against innovation and progress.
Critics often dismiss Musk’s optimism as hype, especially when near-term metrics like quarterly deliveries or stock fluctuations disappoint.
Yet his pattern remains consistent: framing short positions against his companies as fundamentally misjudging exponential technological leaps. For SpaceX shorts, the message is clear: betting against multi-planetary ambitions and the infrastructure monopoly they enable carries existential risk for the firms involved.
As Musk and supporters see it, the space economy’s upside dwarfs Earth-bound valuation models, making today’s dips temporary in a decades-long ascent.
Elon Musk
SpaceX Starship Flight 13 aborted at Zero and Musk just told us what broke
Four Raptor engines failed to ignite at T-zero, forcing SpaceX to scrub Starship Flight 13 Thursday.
SpaceX scrubbed the Starship Flight 13 launch attempt Thursday evening at the last possible moment, after four of the Super Heavy booster’s 33 Raptor 3 engines failed to ignite during the startup sequence. The 90-minute window had opened at 6:45 p.m. EDT from Starbase in Boca Chica, Texas, and the countdown had proceeded without issue all day, with more than 11.5 million pounds of liquid methane and liquid oxygen being fully loaded into the rocket before the automated abort triggered. SpaceX’s launch directors posted on X, “Standing down from today’s flight test attempt,” and shut down the livestream shortly after.
Musk confirmed the root cause within hours. “Some of the engines didn’t start, triggering an automatic launch abort,” he wrote on X. “To be confident of a good flight, 2 Raptors will be removed and replaced. Most probable launch timing is early next week.” SpaceX engineers began draining propellant tanks immediately and Booster 20 was rolled back to its hangar for inspection.
The timing adds a layer of significance that did not exist during any of the previous 12 Starship flights. This is the first time SpaceX has attempted to launch Starship since the company made its stock market debut in June, listing under ticker SPCX at $135 per share. Public investors are now watching every Starship outcome in real time, and a last-second abort carries more visibility than it would have six months ago.
Flight 13 was designed to be one of the most consequential tests in the program’s history. It was set to carry 20 Starlink V3 satellites, the first operational payload Starship has ever attempted to deploy. Six of those satellites carried external cameras to photograph Starship’s heat shield from the outside during flight, which would act as a self-inspection approach SpaceX has never attempted before. The mission also needed to complete a Raptor engine relight in space, a step SpaceX skipped on Flight 12 in May after losing an engine during ascent. That Flight 12 booster also flipped 90 degrees off course during its boostback burn when five engines failed to reignite.
SpaceX has not announced an official next launch date. Musk’s “early next week” window points to July 21 or 22 at the earliest, pending the engine swap and a return to the pad.
Lucid CEO Silvio Napoli responded to rumors of an imminent bankruptcy that was reportedly being mulled after a report stated the automaker was working with the firm AlixPartners to iron out its next steps.
The company felt a massive loss on Wall Street yesterday, as the report essentially pushed the stock down as much as 55 percent on Tuesday.
The report, published initially by Eletric-Vehicles.com, claimed Lucid was essentially in dire straits and was told by AlixPartners, a commonly used restructuring advisor, to either take shares private or file for Chapter 11 bankruptcy protection.
Lucid’s head of Communications, Nick Twork, immediately challenged the report and stated the company “has sufficient liquidity to carry its operations well into next year.”
Now, the company’s CEO is chiming in as well, stating that the report is “so far from the facts that they require a direct response.”
Napoli said:
“Lucid is not considering bankruptcy or a transaction to take the company private. Those reports are false. The Board did not explore either scenario. Period.
As disclosed in our most recent quarterly filing, Lucid has sufficient liquidity to fund its operations well into next year.
We work with outside advisors to improve operational performance and execution. They are not advising Lucid on a take-private transaction or bankruptcy, and any suggestion that they have recommended either course of action to management or the Board is false.
My priority is clear: turn this company around. That is where the leadership team and I are focused.
I look forward to providing a full update during our quarterly earnings call on August 4th.”
🚨 Lucid CEO Silvio Napoli calls rumors of financial issues “so far from the facts that they require a direct response.”
Read his full remarks here: https://t.co/t3Pg1NHvzy pic.twitter.com/LvHUPhO4Qf
— TESLARATI (@Teslarati) July 15, 2026
It seems pretty clear that Lucid is confident things will be okay, and, to be honest, they should not have much to worry about, especially considering the company has been backed by the Saudi Public Investment Fund (PIF) for years. It has solid financial backing, and its sales, while weak, are pretty much right on par with a company of this age.
Lucid also sent a Cease & Desist letter to the publication for their report.
Lucid shares have rebounded nicely and are up nearly 21 percent at the time of publication. As soon as the company dispelled the rumors of bankruptcy yesterday, the stock began to climb back toward more reasonable levels.
Tesla’s AI Chief just hinted at something big for FSD v14 lite owners
Elon Musk sends first warning to SpaceX short sellers
