Tesla Inc reported $23.4 billion revenue at the top line for the third quarter of 2023, falling short of analysts’ expectations set at $24.06 billion. Nevertheless, the revenue did show a 13% increase compared to the previous year. Despite the low quarterly earnings, influencers on X remain optimistic about the Austin-based automotive and clean energy company’s prospects, especially with the upcoming products like Cybertruck and full self-driving technology. Subsequently, influencer conversations around “Tesla” on social media platform X saw an increase, reveals the Social Media Analytics Platform of GlobalData, a leading data and analytics company.

Smitarani Tripathy, Social Media Analyst at GlobalData, comments: “Influencers have varying responses to Tesla’s earnings results. Some emphasize that the company’s performance was influenced by price reductions aimed at spurring demand in the competitive electric vehicle market. Others highlight the positive aspects contributing to Tesla’s market strength, such as progress on the Cybertruck, AI focus, and strong margins in the energy division.”

Below are a few popular influencer opinions captured by GlobalData’s Social Media Analytics Platform:

1. Dave Lee, Individual Analyst:

“Here’s my take on Tesla’s Q3 earnings reported today. Positives:- Tesla remains hyper-focused on AI- Tesla’s energy division is now Tesla’s highest margin business – Cybertruck is moving forward Challenges:- Growth in 2024- Margins- Uncertain macro economic forecast”

2. Gary Black, Managing Partner at The Future Fund LLC:

“2/ I personally thought the call was ok and we still love $TSLA stock. I appreciate the transparency by Elon and his team to explain the challenges ahead.  I still think relying on price cuts rather than advertising is a mistake when the average person is clueless about how easy Teslas are to charge and how inexpensive they’ve become, but I’m excited $TSLA is starting to advertise. Cybertruck deliveries will be a huge catalyst. I continue to believe TSLA 2024 volumes and earnings will beat consensus ests.  My TSLA PT remains $300.”

3. Alex Voigt, Author at CleanTechnica:

“Although expectations were set low during the Q3 earnings call due to uncertainty about future interest rate trends and CT ramp the cost reductions, cash flow, volume growth, Tesla Energy, and FSD are key factors that put Tesla in an exceptionally strong position.Tesla’s fundamentals continue to improve, and with breakthrough new products like the CyberTruck, FSD performing very well and capacity expansion are putting Tesla in an incredibly strong market position relative to other manufacturers in a weak market and economic environment…”

4. Charlie Bilello, Chief Market Strategist at Creative Planning:

“Tesla: -Q3 revenues increased 9% YoY, slowest growth rate since Q2 2020.

-Q3 net income declined 44% YoY to $1.85 billion.

-Q3 gross margins fell to 17.9% from 25.1% a year ago, largely a result of the deep price cuts on its vehicles. $TSLA”