Tesla stock falls 5% after missing revenue expectations

According to The Guardian, Electric car giant Tesla (TSLA), reported its Q3 earnings after the bell on Wednesday, missing analysts' expectations on revenue, but slightly beating on earnings. Here are the most important numbers from the report.

  • Q3 Revenue: $21.45 billion versus $22.09 billion expected
  • Q3 Adjusted EPS: $1.05 versus $1.01 expected

Shares of the automaker fell more than 5% following the announcement.

The company says it still expects to see 50% average annual growth rate on vehicle deliveries for the year. The automaker also said it believes it has enough liquidity to continue to build out its roadmap.

Still, Tesla says that it's facing year-over-year headwinds from the increased cost of raw materials and inefficiencies at its Gigafactory Berlin. A strengthening dollar is also impacting Tesla sales abroad, cutting into profitability.

Start Trading
in Minutes

bullet Access 10,000+ financial instruments
bullet Auto open & close positions
bullet News & economic calendar
bullet Technical indicators & charts
bullet Many more tools included

By supplying your email you agree to FP Markets privacy policy and receive future marketing materials from FP Markets. You can unsubscribe at any time.

Source - cache | Page ID - 2966

Get instant Updates in Telegram