Home » Tesla: 3rd quarter earnings better than estimates, sales disappoint. The Musk giant confirms the guidance

Tesla: 3rd quarter earnings better than estimates, sales disappoint. The Musk giant confirms the guidance

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Tesla (TSLA), the electric car giant founded and managed by Elon Musk, has announced that it has finished the third quarter of the year with a profit that is better than the conensus estimates, thanks to the record achieved by the deliveries of its vehicles.

Turnover, however, disappointed forecasts, a factor that led the stock to lose approximately 1.6% in afterhours trading.

Most notably, Tesla reported net profit (GAAP) of $ 1.62 billion, surpassing the $ 1 billion mark for the second time, up sharply from net profit of $ 331 million in the third quarter of 2020.

Adjusted EPS was $ 1.86, better than the $ 1.59 expected from the Refinitiv consensus and also the $ 1.67 expected from the Bloomberg consensus. Revenue stood at $ 13.76 billion, lower than the $ 13.91 billion forecast by Bloomberg’s consensus.

Tesla confirmed its previous guidance of an average growth in deliveries, over a multi-year horizon, and on an annual basis, equal to + 50%.

In early October, the group announced that it had delivered more than 241,300 electric cars worldwide in the three months ended September, a new record for quarterly car deliveries.

The number has brought the total quantity of cars delivered since the beginning of the year to 627,500 units, already above the deliveries of nearly 500,000 vehicles that have affected all of 2020.

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