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Tesla reported automotive gross margins, excluding credits, at 13.6%, falling short of the market's whisper number of 15%. This marks the lowest figure seen in five years. Additionally, the company missed earnings expectations by about 67 cents per share, posting earnings of 76 cents against projections. Revenue also lagged, coming in approximately 7% lower than anticipated. Under typical circumstances, such results would lead to a stock drop; indeed, Tesla initially opened down several percent upon the earnings release. However, the stock soon rallied, suggesting that investors turned their focus toward the long-term vision discussed during the earnings call.