Tesla shares hit a record high and its market value exceeded $900 billion

Wechat scan code QR code share with friends and circle of friends financial Associated Press, October 22 - Tesla's share price returned to above $900 and set a new historical high, now up about 0.7%, with a market value of more than $900 billion extended reading: Tesla's revenue in the third quarter was US $13.76 billion, and its net profit was 1.62 billion. It delivered 240000 vehicles on October 21. After opening on Wednesday, US local time, Tesla, an electric vehicle manufacturer, announced its financial results for the third quarter of 2021. According to the financial report, Tesla's revenue in the third quarter was US $13.76 billion, a year-on-year increase of 57%; The net profit was USD 1.62 billion, a year-on-year increase of 389%; Earnings per share was $1.86, an increase of 145% compared with the same period last year. Tesla shares fell 1.23% after the earnings announcement the following are the highlights of Tesla's financial report in the third quarter: -- the revenue was US $13.76 billion, an increase of 57% compared with us $8.77 billion in the same period last year, but it was lower than the US $13.91 billion generally expected by analysts -- the net profit was USD 1.62 billion, an increase of 389% compared with USD 331 million in the same period last year, exceeding the market expectation of USD 1.257 billion, which was the second time that Tesla's quarterly net profit exceeded USD 1 billion -- earnings per share was $1.86, an increase of 145% compared with $0.76 in the same period last year, higher than the $1.59 generally expected by analysts -- as of the end of the third quarter, cash and cash equivalents were US $16.07 billion, an increase of 11% compared with us $14.53 billion in the same period last year - the total output of new vehicles was 237823, an increase of 64% compared with 145036 in the same period last year, including 228882 model 3 and model y and 8941 model s and model X - the total delivery volume is 241391 vehicles, an increase of 73% compared with 139593 vehicles in the same period last year, including 232102 vehicles for model 3 and model y and 9289 vehicles for model s and model X -- the number of charging stations increased to 3254, with a year-on-year increase of 49%. The number of charging piles reached 29281, an increase of 51% compared with 19437 in the same period last year Tesla also announced the progress of global plant production and construction: -- California and Texas: Fremont plant has produced more than 430000 vehicles in the past four quarters, and there is still room for further improvement. The output of model s and model x continued to increase in the third quarter, and the first delivery has begun; The huge plant in Texas is under construction as planned. At present, the equipment is being commissioned and the first batch of trial production vehicles are being manufactured -- Shanghai, China: throughout the third quarter, China remained Tesla's main export center. China's output is growing rapidly, and Tesla is continuing to improve technology to further improve productivity. For standard range vehicles, Tesla is turning to lithium iron phosphate (LFP) batteries worldwide. Previously, Tesla's standard mileage cars manufactured in the United States used nickel cathode lithium-ion batteries. Because iron uses more raw materials than other lithium-ion batteries such as nickel and cobalt, it is usually more affordable to produce LFP batteries at present -- Berlin, Europe: the Berlin plant is still expanding, and the equipment test is progressing smoothly. Tesla hopes to obtain the final license approval by the end of this year Tesla's record performance in the third quarter was due to a 30.5% increase in gross profit margin of its automotive business and a 26.6% increase in overall gross profit margin. Both figures have been the highest in at least the past five quarters Tesla disclosed in its past financial reporting documents that the company also earned $806 million from its energy business, including solar energy and energy storage products. In addition, service and other revenue was $894 million, including vehicle maintenance and repair, automobile insurance and sales of Tesla branded goods for the energy and storage business, Tesla's revenue cost in the third quarter rose to the highest level in the past five quarters, reaching $803 million in the shareholders' report released before Tesla held the third quarter earnings conference call, the company said that "various challenges, including semiconductor shortage, port congestion and rotating power outages, are always affecting our ability to keep the plant running at full speed" despite these problems, Tesla reiterated its previous performance expectations, that is, it is expected to "achieve the goal of an average annual growth of 50% in vehicle delivery" in the next few years at the same time, Tesla recorded an impairment of $51 million related to bitcoin investment, which Tesla attributed to "restructuring and other" expenses unlike other automakers, Tesla's sales increased in the quarter, setting a new corporate record, despite the great pressure on the automotive industry caused by chip shortage and supply chain challenges due to strong consumer demand, many other carmakers reported record profits during the shortage of semiconductor chips. However, due to the limitation of suppliers, they have never been able to create better sales performance at the general meeting of shareholders in the third quarter of 2021, Tesla has not given the specific production date of the highly anticipated electric pickup cybertruck. Just said that the production of this non-traditional pickup truck will start sometime after model y starts production in Austin, and Tesla is building a new automobile assembly plant in Austin last quarter, Elon Musk, CEO of Tesla, said he would no longer host the earnings conference call. Investors submitted questions to the say technologies website, which Tesla uses to poll shareholders before the earnings conference call shareholders want to know the latest situation of cybertruck and 4680 batteries, and whether Musk's $25000 electric vehicle mentioned last year is still under development. The company's strategy to deal with supply chain problems will also become the focus after Tesla's third quarter earnings announcement, the stock fell 1.23% after hours. On Wednesday, Tesla shares closed up 0.18% to close at $865.8 a share, up 23% so far this year. (small)

2023-03-22 10:04:45

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