JMP Securities' Joe Osha Surprised With Tesla's Q3 Profits

The transcript discusses Tesla's surprising gross margin in the third quarter, which exceeded expectations and contributed to profitability. It highlights Tesla's production and sales strategies, including the opening of a Shanghai factory and the Model Y launch. Despite profitability, concerns about declining top-line revenue growth are raised, leading to a stock rating change from buy to hold.

What was the unexpected financial metric that surprised analysts about Tesla's performance?

• Revenue

• Operating expenses

• Gross margin

• Net profit

What significant development is Tesla planning in Shanghai?

• Opening a new sales office

• Launching a new car model

• Opening a new factory

• Starting a new marketing campaign

Which model is Tesla ahead of schedule on, according to their investor letter?

• Model 3

• Model X

• Model S

• Model Y

What is the main concern regarding Tesla's financial performance despite their profitability?

• Decreasing market share

• Rising competition

• Falling top line revenue growth

• Increasing production costs

Why is the Model Y important for Tesla's future growth?

• It is the most expensive model

• It targets a niche market

• It is a top-selling consumer car category

• It has the highest profit margin