in the first quarter of 2020. Tesla stock rose more than 10% after hours on the news. Analysts had expected about 79,900 as of Wednesday, according to a survey by FactSet.
The estimates took into account the COVID-19 pandemic, which required Tesla to wind down new car production at its main car plant in Fremont, California, in the last week of March and also suspended production in Shanghai in January and February. For the period ending March 31, Tesla said it produced about 103,000 vehicles total, including 15,390 Model S and X, and 87,282 Model 3 and Model Y vehicles.
One of the lowest first-quarter estimates out there, from Loup Ventures' Gene Munster, saw Tesla delivering just 57,000 vehicles for the period ending March 31, 2020. Munster emphasized that COVID-19 and its impacts on people the world-over have dampened auto sales.
euh what a joke
they manipulate the earnings to try to prop the market up. its fake news.
Tesla Q4 revenues have been 15-30% higher than other 3 quarter average for several years in a row. Q1 revenues are always the lowest. Blatant channel stuffing. Total house of carbs
elonmusk you shipping out boxes of shorts for the sellers this week?
Love Tesla huge fan of Elon but very skeptical of these numbers
Never mind the cars ,,,,where the hell are the ventilators?
Actually the lowered bar estimate from the company was 82,000 and Factset had 89,000. Don't you people employ a fact-checker?
I’ll buy Tesla at $90, thanks.
$TSLA will rule over next 3-5 years.
lorakolodny I know you most likely got the statement from Variecha’s pre delivery (non 8k filed) heads-up report to analysts, but in reality why would analysts not separately model deliveries for 3 and Y?
Below the consensus of 89K. Fucking hilarious
A month ago I was hearing estimates of 125K.... they sorely miss and stock jumps 18% WTF people?!?
So they missed consensus estimates of mid 90k of a week ago....
Q2 deliveries will be 10.
lorakolodny When did the FactSet $TSLA delivery estimates change from 89k to 79.9k? MarketWatch still lists FactSet consensus analyst deliveries at 89k. A couple last minute analysts sandbagging estimates makes this a huge beat, generating billions in market cap?
lorakolodny What is ratio of deliveries to avoidable virus cases? And not just employees but all chain reactions through families and society
Lol, they don't talk of the loads of cancellations.
Keeping factory open as long as possible and only shutting down due to outrage over corona. Great story
This article is going in the files for future reference.
not bad... where's my cybertruck tho?
How about ventilators?
But do they have any real profits? It still just selling tax credits. Isn't Socialism great?
TheAntiChanos