No Elon Musk Show during this Tesla quarterly call -Breaking
By Hyunjoo Jin
SAN FRANCISCO, (Reuters) – Tesla (NASDAQ) Inc CEO Elon Musk did not attend the earnings conference call on Wednesday. This makes him the only top executive in America to have missed the annual ritual of speaking to Wall Street.
Musk’s reputation among customers and investors is an asset to the electric car manufacturer. His absence, if it continues, is likely turn Tesla’s quarterly reviews into less stoic business reviews than unpredictable platforms for his latest thoughts.
On Wednesday, Tesla exceeded Wall Street’s expectations in third quarter revenue. This was due to record deliveries and a long-term global shortage of raw materials.
Apple Inc (NASDAQ)’s former CEO Steve Jobs did not speak often on the quarterly conference calls. However, his successor Tim Cook makes an appearance. Other major executives, such as Jim Farley (NYSE:) Co, also make an appearance at the events. Facebook Inc (NASDAQ:)’s CEO Mark Zuckerberg.
Amazon.com Inc. (NASDAQ:) founder Jeff Bezos was a billionaire and did not participate in earnings calls for the company before he stepped down as CEO. Bezos and Musk have been competing for the title “World’s Richest Person”.
Musk stated during Tesla’s July earnings conference that he wouldn’t be there at future Tesla events “unless I have something really significant to share.”
The outspoken tycoon used quarterly calls in the past to promise technology and product delivery and fire back at critics, analysts and the government.
Musk now often concentrates on SpaceX which is creating a huge rocket that will transport humans to Mars in order to achieve the ultimate goal.
Morgan Stanley (NYSE:) has said its clients believe SpaceX could make Musk the first “trillionaire” and that the company could ultimately command a higher valuation than even Tesla, the world’s most valuable industrial/manufacturing company.
On an earnings call last year, Musk called the U.S. government’s stay-at-home restrictions to curtail the coronavirus outbreak “fascist.”
In another call in 2018, he refused to answer questions from analysts on the electric vehicle maker’s capital requirements, saying “boring, bonehead questions are not cool.” Tesla shares fell as a result.
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