Tesla Q3 2024 Results: First Beat In 2 Years
Bulls should toast with Coors Light rather than champagne given the fragile nature of Tesla's earnings surprise
Tesla’s Q3 adjusted EPS of $0.72 beat Street estimates of $0.60 by 19%.
Most of the beat can be attributed to higher-than-expected regulatory credits, record-high booking of deferred FSD revenues, and a one-off spike in Energy gross margin (see Figure 1).
It was the first beat in two years and Musk milked the opportunity by making unbridled predictions …
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