Tesla earnings

Tesla Inc on Wednesday posted record third-quarter revenue but still missed Wall Street estimates as the electric carmaker led by billionaire Elon Musk ...

Musk has been trying to raise cash to fund his $44 billion deal to take Twitter Inc private. Tesla's market cap is now under $700 billion, while Apple is worth $2.3 trillion and oil producer Saudi Aramco is worth $2.1 trillion. "Raw material cost inflation impacted our profitability along with ramp inefficiencies" from its new factories in Berlin and Texas, and the production of its new 4680 batteries, according to Tesla's statement. [(TWTR.N)](https://www.reuters.com/companies/TWTR.N), although he and other investors were [overpaying](/markets/deals/musk-says-excited-by-twitter-deal-despite-overpaying-2022-10-19/) for the social media company. [(AAPL.O)](https://www.reuters.com/companies/AAPL.O) and Saudi Aramco [(2222.SE)](https://www.reuters.com/companies/2222.SE), combined. Musk added that production of the 4680 battery was gaining rapid traction, although executive Andrew Baglino said, "There are challenges still ahead that we have not yet surpassed. Some experts say Musk may need [(TWTR.N)](https://www.reuters.com/companies/TWTR.N). [to sell about $3 billion more in stock](/markets/us/how-will-elon-musk-pay-twitter-2022-10-07/) after the earnings announcement to help fund the deal. [delivered 35% more vehicles](/business/autos-transportation/teslas-third-quarter-deliveries-miss-estimates-2022-10-02/) in the July-September period than in the previous quarter, but the record number was shy of vehicle production and analysts' estimates. Musk also said the company has the ability to do a stock buyback in the range of $5 billion to $10 billion, pending board review and approval. [(TSLA.O)](https://www.reuters.com/companies/TSLA.O) Chief Executive Elon Musk on Wednesday said he expected the company would miss its vehicle delivery targets this year, but downplayed concerns about softening demand after the company's revenue missed Wall Street estimates.

Tesla earnings topped Q3 estimates, but revenue missed. TSLA stock, near a 52-week low, slipped after hours, ahead of the conference call.

That followed a 0.8% gain to 222.04 for TSLA stock in the regular session. "We are making progress on the industrialization of Cybertruck," Tesla said. At the same time, waiting lists for Tesla vehicles in China have been getting shorter, so growth may have to rely on exports. Incentives for new commercial EVs include tax credits of up to $40,000. The difference reflected vehicles in transit at the end of the quarter, the company said. Langan increased his earnings estimates for Tesla by 33% through 2026 to reflect Inflation Reduction Act incentives. The law provides $7,500 tax credits for EVs that qualify based on where the vehicles and battery materials are produced. Incentives for U.S.-based production could amount to $3,100 per vehicle, or $2.8 billion for Tesla, based on its potential 900,000 U.S. Since the Q2 report, passage of the Inflation Reduction Act has improved the intermediate-term financial outlook for Tesla. It's unclear the extent to which EV demand can withstand recession. Tesla has been targeting a 50% annual increase in deliveries to 1.4 million this year. Nelson said that Tesla's hefty cash balance of $21.1 billion could raise pressure for a stock buyback.

Here are a few things on our radar when Tesla, the world's largest seller of electric cars, reports Q3 earnings Wednesday after markets close and CEO Elon ...

But he offered nothing on future volumes and timelines. 6](https://www.axios.com/2022/10/07/musk-tesla-semi-production-pepsi-deliveries-december) that Tesla's long-delayed semi-truck is starting production and PepsiCo will get the first deliveries Dec. [Reuters reports](https://www.reuters.com/business/autos-transportation/tesla-investors-focus-demand-issues-earnings-report-2022-10-18/). The big picture: Tesla's now consistently profitable. [said on Oct. [Energy & Environment](https://www.axios.com/energy-environment)

Tesla posted improved third quarter earnings that were generally in line with Wall Street forecasts, but profits were still just short of where they were at ...

He has not been able to sell Tesla shares since that latest reversal, because as a company insider he can’t sell shares between the end of a quarter and when it reports. Instead, with share values climbing in the past, it had frequently sold additional shares in order to raise its cash reserves. But Musk needs to be the pilot on the plane. [Musk’s plan to purchase Twitter](http://www.cnn.com/2022/10/07/tech/elon-musk-twitter-deal-financing/index.html) plays out in the next few weeks. Musk has already [sold 17.6 million shares of Tesla](http://www.cnn.com/2022/08/09/investing/elon-musk-tesla-stock-sale/index.html) stock, raising $15.4 million, since announcing his agreement to buy Twitter. The company is still “looking forward to a record-breaking Q4,” CEO Elon Musk said on a call with investors Wednesday. The company had previously reported it delivered 344,000 cars in the third quarter, a record for the company, and up 42% from a year ago. The stock’s relatively modest decline Wednesday is likely because investors were already expecting Tesla to concede it wouldn’t hit the 50% growth figure, according to Dan Ives, tech analyst for Wedbush Securities. The delivery miss, combined with them taking their medicine, recognizing they’re not to hit the 50% number,” he said. Telsa still has a fraction of the sales of established automakers. It was better than the $3.5 billion earnings forecast by analysts surveyed by Refinitiv. This target has become more difficult but it remains possible with strong execution.”

Months after the CEO insisted the carmaker's problem is production, it reported disappointing deliveries.

Tesla is boasting records for this latest earnings report, though the company's revenue is slightly below what was projected.

Despite today's earnings, Tesla (TSLA) stock appears to be down in afterhours trading. [Q3 2022 earnings call](https://www.shacknews.com/article/132705/tesla-tsla-q3-2022-earnings-call) begins at 2:30 p.m. You can catch that live on the [Shacknews Twitch Channel](https://www.twitch.tv/shacknews). Tesla's earnings are somewhat surprising given the outlook of last quarter, as well as the increasing commodity and energy prices. The initial phase of Tesla Semi deliveries is scheduled to begin in December 2022. As a result, we began transitioning to a smoother delivery pace, leading to more vehicles in transit at the end of the quarter. Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries. YoY, operating income was primarily impacted by the following items: Our operating margin reached $17.2% in Q3. Raw material cost inflation impacted our profitability along with ramp inefficiencies from Gigafactory Berlin-Brandenburg, Gigafactory Texas and 4680 cell production. Meanwhile, its EPS number came in at $1.05 per share, compared to the $0.99 that was expected. The third quarter of 2022 was another strong quarter with record revenue, operating profit and free cash flow.

Tesla reported Wednesday another quarter of sparkling earnings growth, but shares fell amid questions over the resilience of electric vehicle demand, CEO Elon Musk's embattled Twitter transaction and other issues. The electric vehicle (EV) maker scored ...

[Sensex](https://economictimes.indiatimes.com/indices/sensex_30_companies)and [Nifty](https://economictimes.indiatimes.com/indices/nifty_50_companies)Track [latest market news](https://economictimes.indiatimes.com/markets/stocks), [stock tips](https://economictimes.indiatimes.com/markets/stocks/recos)and [expert advice](https://economictimes.indiatimes.com/markets/expert-view)on [ETMarkets](https://economictimes.indiatimes.com/markets). With US inflation showing no signs of easing, analysts wonder whether demand for the pricey vehicles will remain robust. Some analysts see the drop in Tesla shares -- during a period that saw the S&P 500 advance -- reflects worries that Musk will sell more Tesla shares to finance the purchase of the social media company. Tesla shares were down more than six percent to $208.16 in after-hours trading, despite Musk saying there is a potential for the company to buy back billions of dollars' worth of shares. - Immune to inflation? Shares of Tesla have dropped more than 16 percent since September 30, shortly before the company released its third-quarter delivery figures and ahead of Musk's October 4 revival of his bid to acquire Twitter and head off a trial in which he was being sued by the company for breach-of-contract. "I think it's an asset that has just sort of languished for a long time but has incredible potential, although obviously myself and the other investors are overpaying for Twitter right now." - But Covid-19 remains a wildcard in light of China's continued adherence to its zero-tolerance approach to fighting the virus. Tesla is on pace for a 50 percent increase in production this year, but could fall shy of that goal when it comes to getting the cars to buyers, chief financial officer Zach Kirkhorn said on the call. Tesla watchers are expecting a strong fourth quarter with a restored Shanghai factory and the ramp-up of plants in Texas and Germany. Tesla is working on smoothing out a "crazy delivery wave" at the end of each quarter, Musk told analysts. The electric vehicle (EV) maker scored a more than doubling of profits in the third-quarter to $3.3 billion on increased auto deliveries