Tesla has posted its SEC Form 10-Q for Q2 2024 on its Investor Relations website. The document, which provides a comprehensive unaudited report of Tesla’s financial performance during the second quarter, provided some important context on some of the electric vehicle maker’s results. These include the $622 million restructuring costs that were listed by the EV maker in its Q2 2024 Update Letter.
Tesla noted in its Q2 2024 Update Letter that its profitability and operating expenses were affected by restructuring charges worth $622 million. Tesla watchers observed that without this one-time charge, the company’s earnings per share would have been notably higher. For context, Tesla posted non-GAAP EPS of $0.52, lower than the Street’s expectations of $0.61-$0.62.
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