"I have to choose my words carefully," says Joe Castelino of Stevens Creek Volkswagen in San Jose, California, when asked about the management software on which most car dealerships rely for inventory information, marketing, customer relationships and more. Castelino, the dealership's service director, laughs as he says this. It's the precise opportunity that former Tesla CIO, Jay Vijayan, concluded he was well-positioned to address while still in the employ of the electric vehicle giant.
Tesla's latest quarterly numbers beat analyst expectations on both revenue and earnings per share, bringing in $8.77 billion in revenues for the third quarter. With the report that Tesla had already beaten Wall Street's expectations for deliveries earlier this month, the question for today's earnings call was how much efficiency (and by extension, profit) the electric car and battery company was able to wring out of its manufacturing processes. Now we have the answer, as Tesla reported net income of $331 million* on revenues of $8.77 billion for the third quarter.
TSLA earnings call for the period ending September 30, 2020.