In a world where technology and finance go hand in hand, Tesla, a renowned electric car manufacturer, revealed the numbers for its third quarter of 2023. Great expectations were about possible movements in the cryptocurrency market, especially Bitcoin, given that the company has a significant amount of this digital currency.
In the recent quarter, Tesla had revenue of US$23.4 billion, failing to reach analysts’ projections that expected US$24.06 billion. However, compared to the same period last year, there was a 13% increase in revenue. In terms of profitability, Tesla’s adjusted earnings per share (EPS) was $0.66, below the forecast of $0.74. Adjusted net profit was US$2.3 billion, lower than the expectation of US$2.56 billion and almost 30% below that recorded in the previous year.
In the cryptocurrency scenario, the company maintained its stance and did not make purchases or sales of Bitcoin.
Tesla, despite facing financial challenges, maintained its production forecast for the year, estimating the manufacture of 1.8 million vehicles. Recently, the company announced the delivery of more than 435,000 cars globally, with the majority being Model Y and Model 3. To reach its annual target, Tesla needs exceptional performance in the next quarter, delivering approximately 500,000 vehicles.
The long-awaited Cybertruck appears to be on track, with delivery expected for November this year, encouraging news for brand enthusiasts. Tesla shares traded at $242.68 down 4.78% on the day.
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