Elon Musk — "Q3 was our best quarter in history. We achieved record production deliveries, record revenue, record net income, both GAAP and non-GAAP and record free cash flow of $1.4 billion. This is really due to the amazing execution by the Tesla team. I could not be more proud to work with such a great group of people. Just really kickass performance across — throughout the world"
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Electric car maker Tesla Inc. (NASDAQ: TSLA) reported stronger-than-expected earnings and revenues for the third quarter of 2020 despite the disruption caused by coronavirus. The company’s stock gained 10% on Wednesday evening soon after the announcement. The Silicon Valley tech firm reported adjusted earnings of $0.76 per share for the September-quarter, compared to $0.37 per share last year. On an unadjusted basis, net income was $331 million or $0.27 per share, up from $143 million or $0.16 per share recorded in the third quarter of 2019. Analysts were expecting a lower bottom-line number for the most recent quarter. Driving the earnings growth, revenues jumped 39% annually to $8.77 billion and exceeded the forecast. Tesla’s stock closed Wednesday’s regular trading higher and continued to gain during the extended session.
Martin Viecha — Head of Investor Relations
Elon Musk — Chief Executive Officer
Zachary Kirkhorn — Chief Financial Officer
RJ Johnson — Senior Director, Energy
Andrew Baglino — Senior Vice President, Powertrain and Energy Engineering
Carl Peterson — Solar Roof Engineering and Installation
Rod Lache — Wolfe Research, LLC — Analyst
Colin Rusch — Oppenheimer & Co. Inc. — Analyst
Adam Jonas — Morgan Stanley — Analyst
Pierre Ferragu — New Street Research — Analyst
Dan Levy — Credit Suisse — Analyst
Gene Munster — Loup Ventures — Analyst
Benjamin Kallo — Robert W. Baird & Co. — Analyst
Philippe Houchois — Jefferies LLC — Analyst
