Insights

Tesla Q3 trounces analyst estimates

There were numerous green lights in the carmaker’s earnings release.
The post Tesla Q3 trounces analyst estimates appeared first on Motley Fool Australia. –

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Tesla (NASDAQ: TSLA) posted its latest quarterly figures after market close on Wednesday, and the shares are trading up in response.

For the company’s third quarter of fiscal 2020, revenue rose by 39% on a year-over-year basis to $8.77 billion. On the bottom line, non-GAAP (adjusted) net profit doubled and then some, to $874 million ($0.76 per share) from the year-ago result of $342 million.

Both figures came in well above analyst estimates. On average, prognosticators were modeling a far lower per-share adjusted net profit of $0.56, and they believed Tesla would only book $8.26 billion in revenue.

The company’s results were helped to no small degree by growth in vehicle deliveries that was well in the double digits. The company shipped 15,275 units of its premium Model S sedan and Model X SUV; that number was 44% higher year over year. Even better, deliveries of the comparatively inexpensive Model 3 sedan and Model Y SUV increased 55% to 124,318.

During the quarter, production in both categories also rose — dramatically, in the case of Model S/X. In Q3 the company manufactured 16,992 of these models, 169% higher than in the same period of 2019. As for Model 3/Y, that increase was 69% (to 128,044).

While the company’s battery segment remains small in relation to vehicles, it is also growing. In terms of megawatt hours of storage deployed, that business grew by 81% to 759 MWh in Q3.

In late afternoon trading on Thursday, Tesla stock was up by 1.6%, eclipsing the gains of the broader equities market.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

Find out the names of our 3 Post COVID Stocks – For FREE!

*Returns as of 6/8/2020

More reading

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Tesla Q3 trounces analyst estimates appeared first on Motley Fool Australia.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!