Tesla Q3 revenue $28.05 billion, down 0.2%; adjusted EPS $0.48 beats estimate
In short
Tesla reported third-quarter revenue of $28.05 billion, down 0.2% from a year earlier and below the $28.13 billion estimate. Adjusted earnings per share were $0.48 against an estimate of $0.44, and CLS reported the shares rose 2% after hours.
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Tesla's third-quarter revenue was $28.05 billion, down 0.2% from a year earlier, CLS reported on 22 October. The figure was below the estimate of $28.13 billion. Yicai and Jiemian published the same revenue figure. [ 1 , 3 , 4 ]
According to CLS and Jiemian, automotive revenue was $20.56 billion, down 3% year on year. Operating profit was $718 million, down 56%, against an estimate of $599.3 million. Adjusted earnings per share were $0.48, against an estimate of $0.44. [ 1 , 4 ]
Gross margin was 19.6%, compared with 18% a year earlier and an estimate of 17.8%. Capital expenditure was $4.73 billion, against $2.25 billion a year earlier and an estimate of $7.95 billion. [ 1 , 4 ]
CLS also reported free cash flow of $1.53 billion, down 62% year on year, against an estimate of negative $4.99 billion. In a separate item, CLS said Tesla's shares rose 2% after hours following the earnings-per-share beat. [ 1 , 2 ]
Why it matters
The outlets compare the results with analyst estimates: revenue came in slightly below, while earnings per share, operating profit and gross margin came in above. The documents give no further analysis of what this means for the company.
Key facts
- Third-quarter revenue was $28.05 billion, down 0.2% year on year; the estimate was $28.13 billion. [ 1 , 3 , 4 ]
- Automotive revenue was $20.56 billion, down 3% year on year. [ 1 , 4 ]
- Operating profit was $718 million, down 56% year on year; the estimate was $599.3 million. [ 1 , 4 ]
- Adjusted earnings per share were $0.48, against an estimate of $0.44. [ 1 , 4 ]
- Gross margin was 19.6%, against 18% a year earlier and an estimate of 17.8%. [ 1 , 4 ]
- Capital expenditure was $4.73 billion, against $2.25 billion a year earlier and an estimate of $7.95 billion. [ 1 , 4 ]
- Free cash flow was $1.53 billion, down 62% year on year; the estimate was negative $4.99 billion. [ 1 ]
Confirmed by several sources
Still unclear
- Whether Tesla's shares rose 2% after hours. Only CLS reported the after-hours move, and it linked it to the earnings-per-share beat.
- Free cash flow of $1.53 billion, down 62%. Only CLS gave this figure.
- Automotive revenue was $20.56 billion, down 3%, and operating profit was $718 million, down 56%. Reported by a single source so far