SAN FRANCISCO (Reuters) – Tesla Inc CEO Elon Musk did not participate in the company’s earnings conference call for the first time on Wednesday, making him one of the few top executives in the United States. United to miss the quarterly ritual of speaking on Wall Street.
Musk’s popularity with investors and customers is a big plus for the electric carmaker, and his absence – if it continues – is likely to turn Tesla’s quarterly calls into more staid business reviews than platforms. unpredictable shapes for the celebrity CEO’s final thoughts.
Earlier Wednesday, Tesla beat Wall Street expectations for third-quarter revenue with record shipments as it faced a prolonged global shortage of chips and commodities.
The late Apple Inc CEO Steve Jobs typically did not speak on quarterly conference calls, but his successor, Tim Cook, made an appearance at the events. So are other top executives like Ford Motor Co CEO Jim Farley and Facebook Inc CEO Mark Zuckerberg.
Amazon.com Inc’s billionaire founder Jeff Bezos did not attend the e-commerce giant’s earnings calls before stepping down as CEO earlier this year. Musk and Bezos are vying for the title of the richest person in the world.
Musk said during Tesla’s earnings call in July that he wouldn’t necessarily be attending such future events, “unless I have something really important to say.”
In the past, the outspoken mogul has used quarterly appeals to make promises about the delivery of technology and products and to strike back at analysts, government and critics.
These days, Musk often focuses on another major company, SpaceX, which is developing a massive rocket to transport people to Mars with the ultimate goal of colonizing the planet.
Morgan Stanley said his customers believed SpaceX could make Musk the first “trillionaire” and that the company could ultimately earn a higher valuation than even Tesla, the world’s most valuable industrial / manufacturing company.
In a profit appeal last year, Musk called the US government’s stay-at-home restrictions aimed at curbing the coronavirus outbreak “fascist.”
On another call in 2018, he declined to answer analysts’ questions about the electric vehicle maker’s capital needs, saying “boring and silly questions aren’t cool.” As a result, Tesla’s shares fell.
(Reporting by Hyunjoo Jin in San Francisco and Subrat Patnaik in Bengaluru; editing by Peter Henderson and Matthew Lewis)