Diverse Forecasts Arise as Tesla Reports Strong Q3 Earnings Amid Growing Investor Interest
On October 22, Tesla, the most held foreign stock among domestic individual investors in South Korea, announced its third-quarter earnings, sparking a variety of forecasts from Wall Street and local securities firms. The anticipation surrounding new business segments such as autonomous driving, robo-taxis, and humanoid robots has led to a mixed sentiment in the market.
Tesla reported a third-quarter revenue of $28.095 billion, which is approximately 40.48 trillion won, marking an 11.6% increase compared to the same period last year. This figure exceeds the market consensus of $26.37 billion and sets a record for the highest revenue in a single quarter, contrasting sharply with the declining revenue observed in the first two quarters of the year.
The automotive segment contributed significantly to this revenue, reaching $21.2 billion, up 6% from $20 billion in the third quarter of last year. This segment accounted for about 75% of Teslas total revenue. Analysts attribute the surge in vehicle demand in the U.S. market to consumers rushing to purchase vehicles before the expiration of electric vehicle tax credits.
The Trump administration had previously provided tax credits of up to $7,500 per electric vehicle, which ended on September 30. As consumers aimed to take advantage of these credits, Teslas vehicle deliveries increased by 7% year-over-year, totaling 497,099 units in the third quarter.
Additionally, Teslas energy production and storage segment also performed well. The company has been involved in large energy storage systems (ESS) that supply power to data centers and solar energy projects. This segment recorded a 44% increase in revenue compared to the previous year, reaching $3.42 billion, making it the fastest-growing sector within Teslas business. The demand for Teslas industrial ESS Megapack has been bolstered by purchases from AI startup xAI, founded by CEO Elon Musk in 2023.
As Tesla continues to innovate and expand its offerings, investors remain optimistic about the companys future, despite the varied predictions from analysts. The intersection of traditional automotive sales and emerging technologies like AI and energy solutions presents exciting opportunities for Tesla and its shareholders.
Tesla reported a third-quarter revenue of $28.095 billion, which is approximately 40.48 trillion won, marking an 11.6% increase compared to the same period last year. This figure exceeds the market consensus of $26.37 billion and sets a record for the highest revenue in a single quarter, contrasting sharply with the declining revenue observed in the first two quarters of the year.
The automotive segment contributed significantly to this revenue, reaching $21.2 billion, up 6% from $20 billion in the third quarter of last year. This segment accounted for about 75% of Teslas total revenue. Analysts attribute the surge in vehicle demand in the U.S. market to consumers rushing to purchase vehicles before the expiration of electric vehicle tax credits.
The Trump administration had previously provided tax credits of up to $7,500 per electric vehicle, which ended on September 30. As consumers aimed to take advantage of these credits, Teslas vehicle deliveries increased by 7% year-over-year, totaling 497,099 units in the third quarter.
Additionally, Teslas energy production and storage segment also performed well. The company has been involved in large energy storage systems (ESS) that supply power to data centers and solar energy projects. This segment recorded a 44% increase in revenue compared to the previous year, reaching $3.42 billion, making it the fastest-growing sector within Teslas business. The demand for Teslas industrial ESS Megapack has been bolstered by purchases from AI startup xAI, founded by CEO Elon Musk in 2023.
As Tesla continues to innovate and expand its offerings, investors remain optimistic about the companys future, despite the varied predictions from analysts. The intersection of traditional automotive sales and emerging technologies like AI and energy solutions presents exciting opportunities for Tesla and its shareholders.
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