In the earnings call with analysts and the media, Elon Musk, Tesla’s number one, showed great optimism about Tesla’s future, also talking about the possibility of launching a share buyback. In the spotlight above all the statements related to the confidence that Tesla’s capitalization will exceed that of Apple. Indeed, Apple and Saudi Aramco combined. “I can’t emphasize enough that we have excellent demand for the fourth quarter and that we expect to sell every car we produce at least for the future we can see,” Elon Musk said. “Our factories are traveling at top speed and we are delivering every car we produce, keeping our operating margins solid ”.
In issuing its third-quarter financial results, Tesla announced that it still estimates an annual growth rate in deliveries of its vehicles, averaging 50%, for this year. Tesla is also expected to launch “a significant buyback” next year, Musk said, worth between $ 5 billion and $ 10 billion, depending on the go-ahead from the board.
“I am of the opinion that we can overcome Apple’s current capitalization. And indeed, I see a potential path that could lead Tesla to be worth more than Apple and Saudi Aramco together. This does not mean that it will happen or that it will be simple ”.
Tesla’s market capitalization is $ 695.76 billion, compared with Apple’s approximately $ 2.3 trillion.
The electric car giant Tesla founded and led by Elon Musk announced that it has finished the third quarter of the year with slightly better than expected profits, but with a disappointing turnover.
Tesla’s net profit (GAAP) grew to $ 3.33 billion, practically double from $ 1.62 billion in the same period of 2021, compared with a gross margin that remained stable at 27.9%, thus as in the second quarter of this year.
On an adjusted basis, eps came in at $ 1.05 versus the $ 1.01 expected by analysts, while revenue was $ 21.45 billion, lower than the expected $ 22.09 billion.
While lower than expected, Tesla’s revenue tested a new record.