Categories AlphaGraphs, Earnings, Industrials, LATEST

Tesla (TSLA) stock gains after Q3 results beat Street view

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.

Tesla Q3 2020 Earnings Infographic

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.

Read management/analysts’ comments on Tesla’s Q3 2020 results

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.

  • Tesla (TSLA) reports profit for Q2, despite lower revenues
  • Tesla Q4 2019 earnings infographic

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

Macy’s (M), Target (TGT), Dollar Tree (DLTR): Major retailers and a costly holiday season

The holiday season has started and it is the time for cheer but this year inflation is proving to be a major spoilsport for the festivities. As customers struggle to

Here’s a look at Dollar Tree’s (DLTR) expectations for the remainder of the year

Shares of Dollar Tree Inc. (NASDAQ: DLTR) were down over 1% on Wednesday, a day after the company reported earnings results for the third quarter of 2022. Revenue and earnings

Target Corporation (TGT): A look at how the retail giant is shaping up against an inflationary backdrop

Shares of Target Corporation (NYSE: TGT) were up over 1% on Wednesday. The stock has dropped 30% year-to-date and 35% over the past 12 months. Last week the company reported

Add Comment
Viewing Highlight