Tesla finished third quarter profitably, stocks go up

Today Tesla reported on the results of the work in the third quarter of this year, and they turned out to be very positive: if Wall Street analysts predicted losses of $ 0.15 per share, then in reality there was a profit – $ 1.91 per share!

The company is now pulling out Model 3: 82% of the 97,000 vehicles shipped in the quarter are in this model. But the demand for Model S and Model X fell by 37%.

Tesla Q3 results:

– Shanghai Giga ahead of schedule
– Model Y ahead of schedule
– Solar installs +48% from Q2
– GAAP profitable
– Positive free cash flow

— Elon Musk (@elonmusk) October 23, 2019

Sales in China fell by 11%, but Tesla is looking at the local market very positively: it is expected to become the largest for Model 3. The company even shared pictures from the Chinese Gigafactory 3 production site, from which the Model 3 pre-sale samples were rolled off the assembly line.

And a little more positive: the preparation for the production of the Model Y crossover based on the Model 3 is faster than the previously announced pace. It is expected that the production of this model will begin not in the fall of next year, but in the summer.

Tesla revenue for the third quarter amounted to 6.3 billion dollars. After the publication of the financial report and immediate plans, the company’s shares soared 17%.