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Tesla (TSLA) releases Q3 revenue: surprisingly large profits, miss revenue



Tesla released its financial results and shareholder letter for the third quarter of 2019 after closing the market today.

We are updating this post with all the details of the financial results, the shareholder letter and the conference later tonight.

As we reported in our Q3 earnings review earlier today, Wall Street expected revenue of about $ 6.517 billion for the quarter and a loss of $ 0.15 per share.

Tesla announced that it had $ 6.3 billion in revenue, and it reported surprising earnings of $ 1.91 a share (Non-GAAP) – just below earnings expectations and above earnings expectations.

Revenue for the first time decreased during the year for the first time.

Tesla explains:

"Compared to the third quarter of 201

8, the percentage of leased vehicles has tripled and has itself affected revenue from most of the reduction on an annual basis. The Model 3 mix increased as we took action to reduce the ASP of our products. These ASP reductions are particularly influenced by the launch of Model 3 Standard Range models and pricing actions earlier in the year.

They were still able to make a profit, to many's surprise, because of the greatly improved

automaker explained in a letter to shareholders:

"GAAP Automotive's gross margin improved by 393bp QoQ to 22.8% ( enhanced with 366bp QoQ without regulatory credits). The margin was influenced in part by fundamental improvements in our operating efficiency, including higher absorption of fixed costs, reduced production and material costs and continuous improvements in vehicle quality, and partly by Smart Summon, related to deferred revenue, currency and other repetitive elements. Improved gross profit combined with a decline in operating expenses led to a significant improvement in GAAP net income. ”

Stocks were above 10% in market sales when Tesla reported wins.

Here we will publish the following earnings successes and a conference call to expand on the most important points (refresh the page to see the latest posts):

Here is the full Tesla shareholder letter for Q2 2019 :

Update on Q3 & # 39; 19


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