Tesla shares rise after the most valuable car manufacturer in the United States presented its third-quarter results. For months, Tesla shares have been continuously falling, including the plunge we saw after the presentation of the autonomous taxi.
And more importantly (at least for us, since we have talked about the car in question hundreds of times over these two years), the controversial Cybertruck ‘has achieved a positive gross margin for the first time.’ All this after a year of sales and increasing the price by more than 30% since its launch.
Tesla in numbers
- Revenue: $25.180 billion, slightly below analysts’ expectations, but with an 8% year-over-year increase.
- Net profit: $2.170 billion, 17% more than 12 months ago.
- Earnings per share: $0.62, also 17% more.
- Deliveries: 469,796 vehicles, a 3% increase. Of these, 443,668 were Model 3 or Y engines.
‘Our company is currently between two major waves of growth: the first began with the global expansion of the Model 3/Y platform and we believe the next will start with advances in autonomy and the introduction of new products, including those built on our next-generation vehicle platform,’ said Tesla to investors.
‘Despite the current macroeconomic conditions, we expect to achieve slight growth in vehicle deliveries in 2024. Energy storage deployments are expected to more than double year over year in 2024,’ the company stated in the presentation.
The fact that Tesla is worth more than traditional American automotive companies – at least according to the stock market – is one of those puzzling issues that analysts do not quite understand. Let’s remember that its shares went from 40 dollars to 400 dollars in just a year and a half.
It faces increasing competition from foreign and domestic rivals in the electric vehicle sector, and has had to endure numerous market recalls and negative press for the controversial and initially defective Cybertruck.
After last week’s demonstration of human robots, the car manufacturer’s stock price took a hit, but it seems that everything is going well now.
His Muskiness also touted the effectiveness of his solar energy empire. Judging by the numbers, he is telling the truth.
