Elon Musk bails out Tesla’s earnings calls – .

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Elon Musk bails out Tesla’s earnings calls – .


Tesla CEO Elon Musk told investors during the company’s second quarter earnings call on Monday not to expect him to participate in future calls unless he has something important to announce.

“I will no longer be doing the results call by default,” Musk said, according to Bloomberg. “Obviously I’ll be doing the annual meeting of shareholders, but I think in the future I most likely won’t be on earnings calls unless I have something really important to say. “

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One important thing Musk had to say on Monday’s call was that Tesla surpassed $ 1 billion in second-quarter profits for the first time in company history.

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The electric vehicle maker’s second-quarter profit was $ 1.14 billion, or $ 1.02 per share, from $ 104 million or 10 cents per share a year ago, while the figure Total business amounted to $ 11.9 billion, an increase of 98% year-over-year.

When it comes to managing his time, the billionaire entrepreneur was asked on the call if he would grant interviews to YouTubers, to whom Musk explained that if he did interviews he couldn’t do. “Other work”.

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This “other job” includes not only managing Tesla, but overseeing SpaceX and The Boring Company, which he both founded. He also co-founded Neuralink and Open AI. Earlier this month, Musk told a court he didn’t like being CEO of Tesla, saying, “I hate it and would much prefer to spend my time on design and engineering, which I do. inherently loves to do. “

But not everyone thinks it’s a good idea for Musk to skip Tesla’s future revenue calls.

Former investment banker and Bloomberg opinion columnist Liam Denning wrote in an article published Monday night that “about $ 30 billion competitors spend per year – as well as billions more from Chinese automakers and newcomers such as the newly listed Lucid Group Inc. – will make an impact, and soon ”for Tesla.

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“Indeed, the mass electrification of vehicles, which is Tesla’s guiding goal, depends on whether there is more than one player in town,” Denning continued, adding, “the difficulty, as always , is that Tesla is seen as an all-round winner. “

He concluded, “Musk might want to keep those hour-long slots stuck in his schedule for a while. “

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