Tesla Q3 2024 earnings, beating most estimates Stock popped 12%
1) CNBC:
Tesla reported third-quarter earnings Wednesday that topped analysts' estimates even as revenue came in just shy of expectations. The stock popped 12% in extended trading.
•Earnings per share: 72 cents, adjusted vs. 58 cents expected
•Revenue: $25.18 billion vs. $25.37 billion expected
•Revenue increased 8% YoY from $23.35 billion.
•Revenue: $25.18 billion vs. $25.37 billion expected
•Revenue increased 8% YoY from $23.35 billion.
•Net income rose to about $2.17 billion, or 62 cents a share, from $1.85 billion, or 53 cents a share, a year ago.
•Profit margins were bolstered by $739 million in automotive regulatory credit revenue during the quarter.
•Profit margins were bolstered by $739 million in automotive regulatory credit revenue during the quarter.
Source:
2) AJ from X.com
•Operating cash flow, free cash flow exceptionally strong. Free cash flow very strong despite an all-time high (by a big margin) capex spending.
•Energy storage business with margin exceeding 30% while being production constraint: second MP factory goes only in 1Q 2025! (only 1 quarter away)
•Net income would have exceeded $3B without a large 'other expense' item and additional restructuring charges.
•Strong increase in profitability (18.5% EBITDA margin)
•Strong cash generation (>$3B net off one-offs and almost $4B on prior quarters' capex level)
•Ultra-rock solid balance sheet: Tesla is the best capitalised global automaker with $34B in cash and very little debt ($7B).
Source:
3) Sawyer Merritt (X.com):
BREAKING: Tesla has released their Q3 earnings, beating most estimates. Highlights:
• EPS (non-GAAP): $0.72 vs. $0.58 est
• EPS (GAAP): $0.62
• Revenue: $25.18 vs. $25.4B est
• Total GAAP gross margin: 19.8%
• Net income (GAAP): $2.176B
Source:
4) My Take
•The reasons I used 3 articles to report Tesla's Q3 2024 earnings is because legacy media like to play down the better than expected earning report and added negatively biased speculation.
• Troy Teslike in X.com (Tesla bear) who forecasted that the earnings will miss EPS consensuses and below expectation is way off this time.
• Actually the revenue misses expectations but when the share price in post market surges 12%, legacy media commented "shy of expectation".
•I am not concerned about expectation and consensus. I think Wall Street's bullish reaction to Tesla stock is not just about earnings. It also reflects the positive sentiment towards Tesla's Robotaxi and EM support in Trump's presidential election.
Related articles:
$BYD COMPANY (01211.HK)$ $BYD Co. (BYDDF.US)$ $S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Tesla (TSLA.US)$ $VOLKSWAGEN A G (VWAGY.US)$ $NIO Inc (NIO.US)$ $Li Auto (LI.US)$ $XPeng (XPEV.US)$ $General Motors (GM.US)$ $Ford Motor (F.US)$ $Rivian Automotive (RIVN.US)$ $MERCEDES-BENZ GROUP AG (MBGAF.US)$ $TOYOTA MOTOR CORP (TOYOF.US)$ $GEELY AUTO (00175.HK)$ $Stellantis NV (STLA.US)$
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
2963Followers
93Following
12KVisitors
Follow
74523441 : small group pumping it.. nothing but traps.
ZnWC OP 74523441 : If anyone has short sold the stock (or bought put option), history has shown that you will lose money - DYODD.
Tesla short sellers lose $5.7B in 1 week. Stock is one of S&P 500 best performers - Finbold
https://www.moomoo.com/community/feed/112764373173030?share_code=01uGqu