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Tesla Drives in Earnings, Revenue Beat in Q3

Stock MarketsOct 20, 2021 04:09PM ET
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© Reuters. Tesla Earnings, Revenue Beat in Q3

By Yasin Ebrahim

Investing.com - Tesla reported Wednesday third-quarter results that topped analyst as higher margins and deliveries boosted performance. 

Tesla (NASDAQ:TSLA) shares gained 0.84% in after-hours trade following the report.

Tesla announced earnings per share of $1.86 on revenue of $13.76 billion. Analysts polled by Investing.com anticipated EPS of $1.52 on revenue of $13.57 billion.

Regulatory credit revenue fell 30% to $279M.

Tesla reported deliveries of 241,300 electric vehicles, and produced 237,823 of them for the period.

Vehicle average selling price declined by 6% year-on-year, but automotive margins continued to improve, rising to 30.5% in Q3 from 28.4% in Q2, and up 281 basis points from the same period a year earlier.

The fall in prices were blamed on a decline in Model S and Model X mix year-on-year in Q3 due to "product updates and as lower ASP vehicles became a larger percentage of our mix."

The company's exposure to bitcoin was a drag in the third-quarter, leading to a $51 million impairment, compared to the $23 million impairment in the prior quarter.

Looking ahead, the company said its Berlin gigafactory was on track to receive final permit approval before year end.

 

Tesla Drives in Earnings, Revenue Beat in Q3
 

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Comments (5)
morning wood
morning wood Oct 20, 2021 7:03PM ET
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how can a company sustain on chitty products?
Robby Lester
Robby Lester Oct 20, 2021 5:28PM ET
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God has given yall an opportunity to buy as many shares of Tesla that you can and hold for 10 years and be multimillionaire!!
Tyler Phillis
Tyler Phillis Oct 20, 2021 4:45PM ET
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As a point of fact, Tesla’s profits are the result of government subsitite. So this earnings beat is at taxpayers expense.
frank zapper
frank zapper Oct 20, 2021 4:45PM ET
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carbon credits subsidy
Bill Ackman
Bill Ackman Oct 20, 2021 4:39PM ET
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This is the leader of of all bubble since covid.
Thillu Mullu
Thillu Mullu Oct 20, 2021 4:30PM ET
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12 years in , pioneer in ev cars yet production seems meh
Pablo Casellas Andrade
Pablo Casellas Andrade Oct 20, 2021 4:30PM ET
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Well Toyota, Ford, GM and many others are almost 80-110 yrs old. So for 12 yrs in the market…
 
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