Tesla shares jump in third-quarter earnings even as expected revenue is lower
After two slow quarters, Elon Musk’s electric-vehicle maker reports higher-than-expected earnings per share
Tesla shares saw a 12% jump after the company reported its third-quarter earnings on Wednesday. The electric-car manufacturer was able to bounce back from a tough second quarter, beating Wall Street expectations for earnings per share. The company reported an earnings-per-share of $0.72, surpassing investors’ projection of $0.60.
At the end of the second quarter, Tesla’s chief executive, Elon Musk, said the nearly 50% drop in profits was temporary and due to difficulty competing with cheaper or price-slashed electric vehicles by rival companies such as BYD. “We don’t see this as a long-term issue,” Musk said in July, “but really fairly short term.”
Continue reading...Date: |
-
Business - CNBC
Netflix rose 11% after third-quarter earnings beat
5 days ago - Netflix -
Business - Financial Times
Tesla’s upbeat earnings and bullish forecast propel shares 12% higher
3 hours ago -
Business - Financial Times
Netflix’s third-quarter revenue and subscriber numbers beat expectations
6 days ago - Netflix
More from The Guardian
-
World - The Guardian
Donald Trump groped me in what felt like a ‘twisted game’ with Jeffrey Epstein, former model alleges
4 hours ago - Donald Trump -
World - The Guardian
Justin Trudeau pressured to resign by backbench MPs within own party
4 hours ago -
World - The Guardian
Trump escalates insults against Harris as he faces scrutiny over alleged praise of Hitler
1 hour ago - Donald Trump -
World - The Guardian
Israeli assault on northern Gaza forces postponement of polio vaccination campaign
52 minutes ago - Israel -
World - The Guardian
Mother says AI chatbot led her son to kill himself in lawsuit against its maker
9 hours ago
Latest in World
-
World - Financial Times
Chinese EV and self-driving tech companies turn to IPOs for cash
12 minutes ago -
World - The Wall Street Journal
A 'Gangster' Is Blowing Up India-Canada Relations---From Behind Bars
21 minutes ago -
World - The Wall Street Journal
How Hezbollah Is Hitting Back After Being Pummeled by Israel
21 minutes ago - Israel -
World - The New York Times
Updates: Blinken Pursues Regional Tour as Mideast Conflict Deepens
22 minutes ago -
World - The Guardian
Boeing workers vote to reject deal to end strike, union says
25 minutes ago