Hey everybody, we're off an hour here and today we're just going to quickly talk about

Tesla's Q3 earnings report, so I did do a couple of live streams on YouTube, I'm just

making this kind of custom and separate for the audio version because those live streams

sometimes don't always translate over perfectly, and there was a lot of number discussion, so

I am going to at the end of this include just my thoughts after the earnings call, I think

that live stream will translate over just fine, but before we get into that for the audio

podcast here, I just wanted to spend a couple of minutes going through some of the numbers

and my initial takeaways from the earnings report, so as you probably are aware of by now,

Tesla did end up reporting total revenue of about 13.8 billion, my forecast was higher

than this by about 6%, most of that coming from automotive revenue, so I was quite a bit

higher just there, even excluding credits, which seems to have come from average selling

prices, so we've talked a little bit about that over the last couple of days, for some

reason I was high there, I'm going to have to go back and listen to the call, Zach mentioned

a couple of things, maybe foreign exchange things that might have impacted that, but I'll

have to go back and take a look at that, that was the biggest thing that I was off on

though, and I would say throughout the rest of the forecast things kind of came in kind

of around where I would have hoped for or actually even better, so if we look at automotive

profit, for example, even though I was 700 million dollars higher on automotive sales,

I was only off by a couple hundred or a couple hundred million on automotive profit,

that means that Tesla's gross margin was actually quite a bit better than what I was expecting,

so automotive gross margin came in at 30.5% versus my forecast at 30%, and if you remember

that I was high on average selling price, that makes Tesla's actual gross margin beating

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