Tesla published its quarterly report yesterday. Despite the recession, the figures looked better than last quarter. However, the current results failed to meet expectations.
Tesla share crash; Image: Börse Online
Below are the expectations versus reality:
| Expected | Reality |
Revenue | $21.96B | $21.45B |
Earnings per share | $1.05 | $0.99 |
Tesla misses expectations by 2.32%. The stock promptly responded, plunging 5% in after-hours trading. Musk answered questions from various investors in a call. The following are the highlights:
Every car in the 4th quarter should be sold
All factories are currently running at full capacity
Stock buyback program of $5 billion to $10 billion to take place next year, if approved by the Board of Directors.
Musk speaks of a market valuation that will be higher in the future than Apple and Saudi Aramco combined (~$4.5 trillion)
Musk says Twitter has long-term potential to become bigger than the company is now.
