Tesla reeled in over $21.5 billion total revenue from the fiscal quarter ending in September. That's up from $17 billion the prior quarter when the company saw a weeks-long factory shutdown in Shanghai due to COVID-19 this spring.
Tesla CEO Elon Musk attends the opening of Tesla factory Berlin-Brandenburg in Gruenheide, Germany on March 22.Tesla CEO Elon Musk attends the opening of Tesla factory Berlin-Brandenburg in Gruenheide, Germany on March 22.end of year for Tesla will be"epic" because electric vehicles are more desirable amid unstable gas prices, the CEO said on a call with shareholders and analysts.
the prior quarter when the company saw a weeks-long factory shutdown in Shanghai due to COVID-19 this spring. ButMusk and the company are heading into the rest of the year with something to prove: that people still want to buy their cars despite production backlogs and signs of slowing demand amid fears of recession.
"For the first time after a Cinderella story, the company's hitting some challenges, and investors need to have some comfort in this white-knuckle backdrop," said Daniel Ives, a managing director and technology analyst at the investment firm Wedbush Securities. That comfort could come in the form of a stock buyback. On the call Musk teased just such a possibility — where a company buys its own shares after a period of growth.
"We have excellent demand for Q4," said Tesla CEO Elon Musk on a call with investors and analysts Wednesday."We expect to sell every car that we make."but has since paused expansion as the Biden administration is promising incentives for electric automakers in the U.S. Europe is also facing a serious energy crisis that could worsen as demand for electricity and heat skyrockets over the winter.
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