Skip to comments.Tesla shares soar on surprise third-quarter profit that beats Wall Street expectations
Posted on 10/24/2018 1:48:04 PM PDT by Moonman62
Tesla shares soared by more than 10 percent in after-hours trading after the company reported a surprise profit for the third quarter and better-than expected car sales and said it was speeding up its Model 3 production in China.
Here's how the company did compared with what Wall Street expected, based on average estimates of analysts polled by Refinitiv:
Adjusted earnings: $2.90 a share vs. an expected loss of 19 cents per share Revenue: $6.82 billion vs. an expected $6.33 billion
The company earned an adjusted $516 million during the quarter, which was an otherwise a tumultuous one for the electric car maker. It was Tesla's third profitable quarter and makes good on CEO Elon Musk's promise for to start turning regular profits in the last half of this year.
(Excerpt) Read more at cnbc.com ...
Saint Elon. The King of the Grifters is still rolling.
Nice back stab.
Elon Musk has delivered on more of his promises than most business men.
When you are on cutting edge technology there will always be bumps in the road but Elon has delivered.
After a test drive of the model S, I will never be satisfied with another car. Rode like a luxury car and handled like a sports car.
They’re full of ChiComm computer chips.
Which chips in particular? I believe they use NVidia for the main computer, but they are replacing those with their own chips.
Say what you want about Elon Musk, he builds beautiful, high performance electric cars that people want. The Tesla cars are not a gimmick and they make the craptastic, ugly offerings from legacy auto manufacturers look like junk.
Either under Elon Musk or under another owner these cars will continue to be built.
Adjusted earnings don’t mean squat, except to the computer algorithms that trade on pixie dust.
Revenues, on the other hand, do mean something, and Tesla’s numbers are much higher than analysts’ guesses. Plus Tesla is not looking to borrow billions when attempting to double its output. So I’m going to say investing in Tesla stock is a crapshoot, while the vehicle look pretty slick.
Worst case: they are keeping books like WorldCon, which pretended to have massive losses in acquisition years, so they could show an insignificant profit the next year. In reality, any two-year period at WorldCon showed massive losses. Best case: growing pains of an auto manufacturer. Evidence against: lots of executive talent quitting in 2017-2018. Evidence for: people still like the cars, so far.
For time being and for what it is worth, I still stick with my trusty Fords. But this doesn’t mean I see anything wrong with electric cars.
Is Tesla mentioned in any of those articles?
The Bright New Automotive Future as promised by Saint Elon Musk and embodied in the Tesla automobile is a shiny turd that has been a failed enterprise from the very beginning. Ruthlessly unprofitable and racking up debt at a prodigious rate, Elon Musk has conned Wall Street, Investors and Taxpayers who are underwriting his 3 ring circus of a car company.
If this was a real car company he would be in Federal Pound Me In The Ass Prison for fraud.
Boss has an S
Nice car for sure
Me likes my 4 runner however
Apple, AWC, SuperMicro, Amazon etc won’t disclose tht data; you know that. But if Tesla does use any of their hardware, it could very well be compromised.
I have two people near me with Teslas, one a cosmetic surgeon and one an insurance exec.
Neither one drives them when it’s really hot, or when it’s really cold and snowing. It’s a third car for one and a fourth car for the other.
I’d say that’s typical for Tesla owners, and says everything that need be said.
They are cool cars, but so is anything that sells in their actual delivered-price range.
Maybe FR is compromised by Chinese spy chips that automatically generate negative comments about Tesla.
How’s your Tesla drive so far? Like it?
And that is fine and what is great about having a choice. I have been a Ford person all my life with one exception a Datsun 260Z. However, the Model S has to be driven to believed. Don't know about the X or the Model 3 but the S is awesome.
I’ve been with Chrysler since the “K” cars. Never had a bad one.
Yeah failed with over 500,000 Model 3’s ordered before the first production car came off the line seems to prove people who are not ignorant and not foul mouthed did not think these were “turds”
The man you love to hate even released ALL his patents on the Model S and Roadster vehicles so that other manufactures could learn and speed up their production as he feels electric vehicles can be PART of our future.
Not the perfect car for everyone but certainly a fantastic car for many people.
Your vitriol tends to make one think you have some ties to the oil industry.
Great cars I am sure.
If, however, you get the opportunity to test drive a Model S, take it.
I have had sport cars, luxury cars, raced cars, raced motorcycles and nothing compared to the experience of driving the Model S.
Not a car for everyone but I think that could be said about any vehicle.
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