December 7, 2022

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- Investors seem surprised - E24

– Investors seem surprised – E24

Tesla’s share fell in aftermarket trading after revenue was somewhat lower than analysts had expected.

Tesla: Elon Musk, CEO of Tesla.
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Tesla had $21.45 billion in sales in the third quarter. Tesla’s result ended at $3.65 billion, or $1.05 a share.

Analysts previously expected revenue of $22.13 billion, according to Bloomberg estimates. At the same time, the result was expected to end at $1.01 per share. This is the first time since the third quarter of last year that the company has not met analysts’ revenue expectations.

The share fell by about 4 percent in after-market trading after the company published its quarterly report.

– Tesla is a company that typically beats analyst expectations and investors seem surprised by their loss, Jane Munster, partner at Loup Ventures, tells Bloomberg.

Logistics and distribution continues to be a challenge for the company. There is also access to lithium for batteries.

We continue to believe that challenges related to delivery and batteries are primarily holding back growth in the medium and long term.

Despite this, the company believes that it will be able to deliver every car it produces and at the same time maintain a good operating margin. The company still expects 50 percent of average annual growth over the next few years.

Read on E24 +

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343,830 cars

In the third quarter, the electric vehicle company delivered 343,830 vehicles worldwide. That’s 42 percent more than the same quarter last year, and 35 percent more than the second quarter of the year. Part of that improvement stems from upgrades at the company’s plant in Shanghai, where eight percent more cars were delivered in September than in August, he writes. Forbes.

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Despite the improvement in production, the company was punished by investors who lowered the stock price after the news. The market expected Tesla to deliver about 15,000 more cars than the result.

– As our production volumes continue to grow, it becomes increasingly difficult to secure transportation capacity at a reasonable price, he wrote The company in the update.

High material costs and logistical challenges have caused problems for Tesla. Part of these costs have The company covered By increasing prices on many models.

The share is down about 45 percent during the year, and has fallen by about 25 percent since the end of September.

Twitter controversy

Tesla CEO Elon Musk is currently very active on the Twitter front.

A company he initially tried to buy, before announcing that he was withdrawing the offer. Since then, Musk has taken a detour and once again said he wants to buy Twitter. It happens at the same time that Twitter is trying it Force completion of the sale in the legal system in the United States.

Recently, he also posted a number of controversial Twitter messages. Among other things, he proposed a solution to the war in Ukraine which would mean Ukraine would give up territory and withdraw from joining NATO, according to Forbes.

The news agency also wrote that Musk’s Twitter activity isn’t particularly helpful for Tesla’s stock price.