There was much to discuss in Tesla’s latest earnings call, so if you’re looking for where to watch the call or read the transcript, then here’s what you need to know.
The call took place on Wednesday, October 19, 2022, to discuss results from the third quarter. Elon Musk was on hand to answer shareholder questions about electric vehicle demand, possible share buybacks, and his potential takeover of Twitter.
Back in April, Elon Musk became Twitter’s biggest stakeholder by acquiring a 9.2 percent stake in the social media platform. Two weeks later, Musk offered to buy the platform and over the past six months, the Tesla founder has been in a back-and-forth over the deal.
At a crucial moment for Musk and Tesla, you might be wanting to get an inside look at how the company does business. Here’s how to tune into the Tesla earnings calls.
Where to watch Tesla earnings call
Tesla made its earnings call available for the public in a livestream. It took place on Wednesday, October 12 at 2:30 pm PT / 5:30 pm ET / 10:30 pm BST and was accessible through the Tesla website.
For those who missed the livestream, it was recorded and re-posted to other platforms. You can listen to the whole earnings call currently via YouTube.
A number of outlets such as Shack News re-posted the full call, including the Q+A segment, to their Twitch channels which you can watch here.
What was on the discussion with stakeholders
The Q3 earnings call saw Tesla report:
- $1.05 in adjusted EPS, ahead of expectations of 99¢, on revenues of $21.45 billion. This is lighter than the $21.96 billion expected.
- Net income (GAAP) reached $3.33 billion, more than double from a year ago.
- Automotive revenue rose 55% from previous year’s quarter.
There was much to discuss regarding the future of Tesla, particularly over the latest Twitter development. During the earnings call, Elon Musk touched on his potential acquisition of Twitter. “I’m excited about the Twitter situation… it’s an asset that has been languished for a long time but has incredible potential,” Musk said during the call. He also said he and the other investors are “overpaying” for Twitter currently.
Highlights from the Tesla earnings transcript
The hour-long call might be too much to tune into for some, so if you’re wanting some highlights from the Tesla earnings call, here are some excerpts from it:
“I can’t emphasize enough we have excellent demand for Q4 and we expect to sell every car that we make for as far into the future as we can see,” Musk said. “The factories are running at full speed and we’re delivering every car we make, and keeping operating margins strong.”
“I’m of the opinion that we can far exceed Apple’s current market cap. In fact, I see a potential path for Tesla to be worth more than Apple and Saudi Aramco combined. That doesn’t mean it will happen or will be easy,” Musk added.
Some more excerpts from Musk are as follows:
“China is experiencing a reverse of a recession of sorts, which is property market — simply from a property market mostly. And Europe has a recession of sorts driven by energy. The U.S. actually isn’t — going North — North America is in pretty good health.”
“We’re going to go basically pedal to the metal as fast as humanly possible to get to 1,000-gigawatt hours a year of production in the U.S. vertically integrated.”
You can read the full transcript here.