In what can easily be described as a surprise for monster revenue, Tesla yesterday posted a quarterly profit of $ 1.91 per share. In the build-up to Tesla's earnings report, analysts expected the EV company to make a loss in the region of $ 0.24 per share. Naturally, Tesla shares rose rapidly and are currently up almost 44 points in trading today.
During Tesla's accompanying earnings conference call, Tesla CEO Elon Musk touched on a number of topics, including some interesting details about the company's plan to roll out Tesla Semi and a brand new pickup. Of particular interest were Musk's remarks about an upcoming software update that will increase the air and that will improve performance on all Tesla models.
Musk firmly stated that in just a few weeks, current Model S, Model X and Model 3 owners will wake up and see that their vehicles have a little more range and performance. With Musk noting that today's Model S reach is about 373 miles, the CEO said it's going to get even better in just a few weeks:
And there are some software improvements that we think will make it even better. I forgot to mention, we also expect that there will be an improvement in the air that will improve the power of the Model S, X and 3. Which, by the way, will come in a few weeks. It should be in the order of 5 percent power improvement due to improved firmware.
Musk then asked if Tesla CTO Drew Baglino had anything to add to the case, to which he replied:
Yes, we just continue to learn how to optimize the engine control of our products. So yes, 5 percent improvement for all Model 3 customers and 3 percent for S and X.
When it comes to specifications, Musk said the Model S can see that the range was cast up to 380 miles.
Musk and Baglino also added that the over-the-air software update will include one-pedal running that will help improve range, along with some additional improvements in comfort, feel, charging speed and overall driveability.
"I don't think there has ever been a situation in history where you buy a car and it gets better over time only through the software," Musk proudly boasted about the conference call. "Not a little better, but a lot."