➤ Tesla reports a surprise GAAP profit in Q1 2020 despite a number of macro and seasonal challenges on the back of strong automotive gross margin ➤ Tesla puts annual guidance on hold, but does not remove the possibility of hitting it ➤ Breaking down the most important takeaways from Tesla's Q1 shareholder letter and financial results vs. Wall St.'s estimates ➤ Metrics covered: revenue, GAAP/Non-GAAP earnings, gross profit, total gross margin, automotive gross margin, regulatory credits, net income, GAAP/Non-GAAP earnings per share, made-in-China Model 3 gross margin, Model Y gross margin, and full-year delivery estimates ➤ Stay tuned for part 2 after Tesla's earnings report conference call

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Executive producer Rish Singh Executive producer Jeremy Cooke Executive producer Nick Wood Executive producer Fela Winkelmolen Executive producer Troy Cherasaro Executive producer Bradford Ferguson Executive producer Andre Kent Music by Evan Schaeffer

Disclosure: Rob Maurer is long TSLA stock & derivatives