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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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Huh?
https://www.reuters.com/article/us-tesla-results-idUSKBN1X81NM
Quote:
Tesla Inc’s (TSLA.O) third-quarter revenue tumbled 39% in the United States, its first drop in more than two years, but sales in China and other regions surged, the electric car maker’s break down of sales by geography showed on Tuesday.
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In its earnings report earlier this month, Tesla reported a nearly 8% drop in total revenue to $6.30 billion, missing analysts’ average estimate of $6.33 billion, according to IBES data from Refinitiv. It did not break down sales by geography in the report.
The company, however, surprised investors with a quarterly profit, making good on Chief Executive Officer Elon Musk’s promise, as it delivered a record 97,000 cars.
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Reading between the lines, as a guy who used to analyze financial reports, I strongly suspect that Tesla had some one-time sources of revenue that boosted this quarter's numbers...
Edit: I found it:
Quote:
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The filing shows warranty adjustments and other one-time items are a large driver of perceived strength, Roth Capital analyst Craig Irwin said, who downgraded stock to “sell” from “neutral”, adding that he sees margins as unsustainable.
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__________________
Some Porsches long ago...then a wankle...
5 liters of VVT fury now
-Chris
"There is freedom in risk, just as there is oppression in security."
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10-29-2019, 11:57 AM
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