Tesla misses the bottom line: the stock continues to decline – global markets

Electric vehicle maker, Tesla

TESLA INC
-2.14%

TESLA INC
864.16
-2.14%

closure:0

opening:870.35

Tall:891.5

low:858.66

cycle:–

Page Quote News Graphs Company Profile Recommendations


More articles on the subject:




(NYSE: TSLA) fell about 2% during trading and continued to fall in late trading, after the company missed analysts’ bottom line expectations. Revenue for the quarter was $ 10.74 billion, up 46% from $ 7.38 billion in the same period last year, and above expectations of $ 10.32 billion.

The company said that revenues grew “among other things, from significant growth in vehicle dedication”, the company reported about 180,667 vehicles delivered, a growth of about 61% compared to the same period last year, which was driven by a 75% jump in model 3 sales. Of the average vehicle has dropped by about 11% year-on-year as the mix of luxury vehicles changes.

Bottom line, Tesla reported a profit of about $ 270 million, a growth of about 157% compared to $ 105 million, but still reflects a profit multiplier of over 800. The adjusted profit amounted to about 80 cents, about 20% lower than the expectation of 1.01 Dollars per share. Cash has grown to about $ 19.4 billion, mainly through $ 5 billion in capital raising and another $ 1.9 billion in free cash flow, which is partially offset by debt repayment.

Tesla did not provide financial estimates for 2021, but announced that it plans to increase production capacity “as quickly as possible and over a multi-year horizon.” The company expects total vehicle dedication to grow by about 50% during 2021. “In a few years, we may grow faster than we expect today, in 2021,” the company said. A growth of about 50% in vehicle dedication means that the company expects to deliver about 750,000 vehicles in 2021, the market expects at least 800,000.