China News Service, October 20, Tesla's third-quarter revenue was lower than expected. Musk said on the 19th local time that Tesla's market value can surpass the current market value of Apple , and even exceed the total of Apple and Saudi Aramco, but Tesla's stock price fell 37% this year.
Tesla stock price daily K-line chart Source: Wind
On the 19th local time, Tesla announced its third-quarter results, with revenue of US$21.454 billion, and increased by 256% year-on-year, lower than the analyst 's expected US$21.96 billion; net profit attributable to common shareholders was US$3.292 billion, up 103% year-on-year, higher than the analyst's expected US$3.2 billion; gross profit margin in the third quarter was 27.9%, lower than 30.5% in the same period last year.
cash, Tesla's operating cash flow ( free cash flow ) after deducting capital expenditures in the third quarter was US$3.3 billion, and the company's cash and securities reached US$21.1 billion.
Regarding the company's performance, Tesla said that the inflation rate of raw material costs, as well as the reduction in efficiency brought about by the Berlin Gigafactory, Texas Gigafactory, and 4680 battery production climb, have all affected the company's profit margin. In addition, the company's large-scale delivery in the last few weeks of each quarter has led to increased transportation costs and logistics instability. In terms of the development of
, Tesla said that the company is still focusing on increasing the weekly output of Fremont and Shanghai, as well as the production capacity of in Berlin and Texas, to increase the production of automobiles as soon as possible. Despite the improvement, logistics fluctuations and supply chain bottlenecks remain imminent challenges. The company believes that the restriction of the battery supply chain will be the main limiting factor in the medium- and long-term growth of the electric vehicle market.
It is worth mentioning that on October 19 local time, Tesla CEO Musk said that Tesla's market value can surpass Apple's current market value, or even exceed the sum of Apple and Saudi Aramco. Of course, this will not be easy. Musk also said that stock buybacks of $5 billion to $10 billion may be conducted.
However, since 2022, Tesla's stock price has been fluctuating downward trend. The stock closed at US$222.04 per share on the 19th, down 37% from the closing price of on the last trading day of 2021. The latest market value is US$695.8 billion, which is still a significant gap compared to Apple's US$2.3 trillion market value. ( China News Service APP)
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