Tesla Model 3 is now expected in mid 2018.
Some analysts estimated that Tesla will lose a few cents per share while others considered that Tesla will earn about 50 cents per share.
The actual results are showing that Tesla’s earnings per share were $0.71, while the profit expectations were only $0.09 per share (last year the earnings per share were $0.58).
The actual revenue of $2.3 billion was also better than expected ($2.2 billion), and much better than a year ago when the revenue reached only the level of $1.24 billion.
In the third quarter, Tesla’s combined net orders for the Model S and the Model X grew by 68% compared with the same quarter in 2015.
The company opened new 17 new stores and service centers to increase the support provided to its customers up to a number of 250 locations around the world.
The company produced a number of 25,135 vehicles, which represents an increase of 37% from the previous quarter (Q2).
Tesla prepares now to ramp up production of the Model 3, and to achieve this, the company prepares to spend big money during the last quarter of this year (Q4).
Total CAPEX for 2016 is expected to be about $1.8 billion, which represents a surplus of $1 billion, compared with the money spent by the company this year.
A few upcoming events of the company that are interesting for the investors.
October 28: Tesla prepares to unveil an integrated solar roof that works together with next-generation energy storage charging.
November 1: Tesla will release new information for the shareholders of both companies regarding the company that will result from the merger between Tesla and SolarCity.
November 17: Shareholders will give their final vote regarding the SolarCity deal.
Regarding the sale date for the Model 3, we are already looking for mid 2018.