[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio63796b0d":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":80},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"useContentVideo":5,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcio63796b0d","特斯拉(TSLA)Q2净利不及预期且毛利率进一步下降-自由现金流转负-股价盘后大跌超4%","\u002Fdoc\u002Fdcio63796b0d","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">美股投资网获悉，特斯拉(TSLA)公布2026年第二季度业绩，尽管营收超出市场预期，净利润、每股收益及毛利率均逊于华尔街预期，且自由现金流转负，反映公司持续加码人工智能(AI)及机器人等领域投资带来的盈利压力。受业绩影响，特斯拉股价周三盘后跌超4%。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">财报显示，特斯拉第二季度调整后每股收益(EPS)为0.33美元，低于市场预期的0.51美元；营收为282.4亿美元，高于市场预期的257.1亿美元，同比增长26%。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">不过，公司盈利能力继续承压。第二季度净利润同比下降5%至11.1亿美元不及预期，合每股收益0.32美元，上年同期分别为11.7亿美元和0.33美元。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">分业务来看，汽车业务收入同比增长23%至205.2亿美元；能源业务(包括太阳能及储能系统)收入同比增长13%至31.4亿美元；服务及其他业务收入同比大增50%至45.8亿美元。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">尽管汽车业务收入表现好于预期，但由于单车平均售价下降以及监管积分收入减少，特斯拉毛利率进一步下滑。第二季度毛利率由上年同期的17.2%降至16.8%，低于市场预期的19.4%。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">财报显示，本季度特斯拉停售了售价更高的Model S和Model X车型，并开始销售价格更低版本的Model 3和Model Y，对整体盈利能力形成拖累。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">与此同时，公司运营费用同比大增47%至43.5亿美元，增速明显快于营收增长，主要由于持续增加AI及研发投入，导致营业利润率由去年同期的4.1%大幅降至1.4%。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">现金流方面，特斯拉第二季度自由现金流转为负11亿美元，而去年同期为正1.46亿美元，今年第一季度则达到14.4亿美元。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">不过，公司表示，将继续保持稳健资产负债表及充足流动性，为未来产品路线图、长期产能扩张计划(包括进一步推进垂直整合)提供资金支持。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">与此同时，资本支出同比飙升142%至57.9亿美元。特斯拉首席财务官Vaibhav Taneja此前曾表示，公司2026年全年资本支出预计将超过250亿美元。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">特斯拉表示，目前涉及AI算力、太阳能、电池材料及半导体制造等多项多年期基础设施建设项目均已启动。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">近年来，随着比亚迪、蔚来(NIO)、小米集团等车企持续推出高性价比智能电动车，特斯拉汽车交付量已连续多年下滑。此外，马斯克的政治言论以及其与特朗普政府的合作，也引发部分消费者抵制特斯拉品牌。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">不过，美国与伊朗冲突导致汽油价格上涨，一定程度上刺激了今年上半年电动车需求，欧洲市场销量有所改善。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">目前，特斯拉正逐步将战略重心由汽车销售转向人工智能及自动驾驶业务。马斯克正加速推进Robotaxi无人驾驶出租车服务、Cybercab无人驾驶汽车量产计划，并改造加州弗里蒙特工厂生产线，为Optimus人形机器人投产做准备。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">公司在财报中表示，Optimus首代生产线已开始安装，并将很快启动生产。首批机器人将主要用于训练数据采集及功能开发，而非直接交付客户。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">与此同时，特斯拉高级驾驶辅助系统FSD订阅业务继续保持增长。公司表示，第二季度活跃FSD订阅用户同比增长56%，总订阅用户已达到148万。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">最专业的美股资讯,推荐美股大数据 \u003Ca href=\"https:\u002F\u002FStockwe.com\u002F\">https:\u002F\u002FStockwe.com\u002F\u003C\u002Fa>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">如何识别美股市场异常波动？美国机构主力资金买卖情况，出货和吸筹，使用美股投资网VIP会员，2008年成立于美国硅谷，由前纽约证券交易所分析师Ken创立，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化模型，建立了一个股市数据库 \u003Ca href=\"https:\u002F\u002FStockWe.com\u002F\">https:\u002F\u002FStockWe.com\u002F\u003C\u002Fa> 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 \u003Ca href=\"https:\u002F\u002Fstockwe.com\" target=\"_blank\" rel=\"noopener\">StockWe.com\u003C\u002Fa> 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理海量股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，美股买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":81,"search":82,"searchPlaceholder":82,"hotContent":83,"draft":84,"noData":85,"searchNoData":86,"edit":87,"editVideo":88,"courseContent":89,"more":90,"buyNow":91,"subscribeNow":92,"encoding":93,"paidContent":94},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]