Tesla returns to convince the market with i third quarter results and the projections for 2025. The shares literally take off and close with a historical +22% (the value of the stock is 260.48 dollars): this has not happened since May 2013. The This acceleration has added more than 150 billion dollars to the capitalization, now around 830 billion. The wealth of the richest person in the world, the CEO Elon Musk, grew by 33.5 billion, bringing the majority to 270.3 billion, 61 more than the founder of Amazon Jeff Bezos. According to Ed Egilinsky, managing director of the Direxion investment company, the increase could also be the result of hedging.
Musk tries the world of robotaxis, presented two weeks ago in Hollywoodraised more than one doubt. Tesla seemed to have changed course, with a definite focus on the development of artificial intelligence and robotics, with the promise of driverless taxi services and the Optimus robot. This led to fears that the company was losing sight of its core business. But during the presentation of the quarterly accounts, the CEO said that car sales will grow by 20-30% in 2025 (against expectations of 10-12%).
How come? Tesla says it plans to produce and launch “more affordable models” in the first half of 2025, without further details. And Musk explained that Tesla is not developing Model 2, Tesla $ 25,000: “We are not producing a non-robotaxi model. Getting one for $25,000 doesn’t make any sense and is completely irrelevant to what we believe.” Also Wednesday, during the call, Musk said Tesla plans to launch the services as early as 2025 riding driverless in California and Texas, a project that could face significant technical and regulatory challenges.
Meanwhile, after two disappointing quarters, in the third, the electric car manufacturer recorded its best financial results in more than a year. Profit increased 17% to 2.2 billion, above analysts’ expectations. Operating margin of 10.8% compared to 7.6% a year earlier. Earnings per share came in at 72 cents compared to 58 cents expected. Regulatory emissions credits are sold to other manufacturers – if a company produces enough electric vehicles they generate credits that can be sold to other companies with debt – along with expansion into the energy sector , have participated. In 2023 the value of credits had reached a value of 1.79 billion on a total income of 96.7 billion. The advanced driving assistance software, the paid package Full Self-Driving, also gave a good boost to earnings: a revenue of 326 million dollars was registered just thanks to FSD and other features of the Cybertruck, which accounted for the first active.
Tesla is also sticking to its cost-cutting schedule, Oppenheimer analysts said in a note. Which sees the electric vehicle manufacturer return to growth and improve margins. The company has also received a boost from lithium discovery efforts, although analysts say these battery cost gains are expected to diminish once lithium prices stabilize.
2024-10-24 23:45:00
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