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Verizon and Tesla dare an optimistic forecast

Even if the turnover in the third quarter was somewhat declining, the US American telecom group Verizon looks a little more optimistic on the further course of the year. The electric car manufacturer Tesla is also confident that it will sell significantly more cars in the future.

The most important things about Verizon and Tesla in advance:

  • Verizon with stable earnings and increased forecast
  • Tesla expects significantly more vehicle sales in the next year

Verizon is optimistic for the rest of the year and expects adjusted earnings per share at least at last year’s level. The company forecasts the range to be between 0 and 2 percent. So far, the company had assumed minus 2 to plus 2 percent.

In the third quarter, revenues decreased 4 percent to $ 31.5 billion compared to the same period last year. Lower customer activity was one reason for this development. At the same time, new smartphones were introduced, which is usually associated with discount campaigns. Verizon’s sales were in line with analysts’ expectations (FactSet).

However, the small online division Verizon Media recorded lower revenues. Adjusted earnings per share remained stable at $ 1.25 year-over-year, as analysts expected.

Products on Verizon

In contrast to Verizon, Tesla’s company figures for the third quarter exceeded analyst expectations (FactSet). The electric car manufacturer earned 76 cents per share, an increase of around 130 percent over the previous year. 55 cents were expected. Sales climbed 40 percent and reached a new record high of $ 8.8 billion. With these figures, the analyst expectations were also exceeded.

This means that Tesla is now making a profit for five consecutive quarters and is also becoming more and more profitable. The operating profit margin was 22 percent in the past quarter, an increase of 6 percentage points compared to the previous quarter.

Tesla continues to assume that it will be able to deliver 500,000 automobiles this year despite the Corona crisis. For the coming year, the company’s management expects more than 800,000 vehicles to be sold, which is also above the forecasts of the analysts (FactSet).

Products on Tesla Inc.

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Source: HSBC

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