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Bloomberg Intelligence
Tesla Shares Surge After Blowout Quarter
Oct 24, 2024
Craig Trudell, Bloomberg's Global Autos Editor, discusses Tesla's impressive quarterly earnings that caused a stock surge and hints at future growth prospects. Jessica Kriegel, Chief Scientist of Workplace Culture at Culture Partners, highlights Boeing's labor contract issues and the cultural shifts influencing the company. Lee Klaskow analyzes UPS's earnings, shedding light on changing consumer behaviors. Finally, Terence Kawaja delves into the transformation in the digital ad tech industry, exploring the impact of AI and the evolving landscape.
45:04
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Quick takeaways
- Tesla's stock surged 17% following strong earnings that exceeded expectations, indicating investor confidence despite recent declines in vehicle deliveries.
- The Cybertruck has achieved positive gross margins in its first year, although its sales remain modest compared to Tesla's established models.
Deep dives
Tesla's Strong Earnings and Stock Surge
Tesla experienced a significant stock increase of 17%, driven by strong earnings that surpassed market expectations. Analysts noted that both earnings and future sales predictions provided by Elon Musk contributed to the positive reaction from investors. The automotive profit margins were particularly impressive, excluding regulatory credits, which further fueled confidence in Tesla's financial health. This optimistic outlook was unexpected given the firm's declining vehicle deliveries in recent months, highlighting a hopeful recovery ahead.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode