Shares of electric car-makers Tesla rose 20 percent late on\nWednesday, after investors were pleasantly surprised in the company’s quarterly\nearnings report. Major projects delivered ahead of schedule also contributed\nsignificantly to the company’s positive financial results.<\/p>\n\n\n\n
Tesla said it earned $143 million in the third quarter, or\nabout 80 cents per share. However, it remains down from the same quarter of\nlast year at $311 million, or $1.82 per share. In terms of adjusted earnings,\nTesla made $342 million, or $1.91 per share, compared with a revised profit of\n3.02 per share last year. Public revenues fell to $6.30 billion from $6.82\nbillion last year.<\/p>\n\n\n\n
Analysts expect the stock to lose 46 cents on sales of $6.43\nbillion in the fourth quarter.<\/p>\n\n\n\n
The results for the current quarter were better than\nexpected but Tesla has gone through this before. The question remains about the\ncontinuity of these figures. In a letter to shareholders, the company said that\nboth the Gigafactory plant and its new Y model will be released ahead of\nschedule. The Y model is expected to be released in the summer of 2020, and\nTesla said the Shanghai plant is ready for production and trial production of\nthe Model 3 has already begun.<\/p>\n\n\n\n
But investors appear ready for a drop in sales despite\nhigher deliveries, mostly due to a combination of deliveries that have largely\ndeviated from the Tesla’s cheapest car. Analysts called on Tesla to anticipate\npossible temporary exceptions to the production and release of new products.\n” Continuous volume growth, capacity expansion, and cash generation remain\nthe main focus,” Tesla said.<\/p>\n\n\n\n
Tesla delivered 97,000 cars in the third month, with 79,600\nsedans. The company delivered 84 thousand cars from the same period last year,\nincluding 56 thousand cars for the third model. Tesla said it was confident of\nselling 360,000 cars in 2019, meaning it had to sell 105,000 cars in the fourth\nquarter. The company previously said it would follow between 360,000 and\n400,000 cars this year.<\/p>\n\n\n\n
In the early hours of Wednesday, Ford Motor Co. also\nreported a third-quarter earnings report that was higher than Wall Street’s\nforecast. But it lowered its forecast in the fourth quarter due to lower\nvolumes in China and higher sales incentives.<\/p>\n\n\n\n
Tesla shares have lost about 23 percent this year, and 13\npercent in the last 12 months. That contrasted with gains of 20 percent and 15\npercent for the S&P 500 and the Dow Jones Industrial Average respectively\nthis year.<\/p>\n","protected":false},"excerpt":{"rendered":"
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