Tesla, world’s largest automaker (by market cap) reported its third-quarter financial results after the closing bell on Wall Street on Wednesday, topping analyst estimates.
The company reported total revenue of $13.76 billion in Q3 vs. $13.63 billion expected. Earnings per share was at $1.86 a share vs. $1.59 per share expected.
”Total revenue grew 57% YoY in Q3. This was primarily achieved through growth in vehicle deliveries, as well as growth in other parts of the business. At the same time, vehicle ASP declined by 6% YoY as the Model S and Model X mix reduced YoY in Q3 due to product updates and as lower ASP vehicles became a larger percentage of our mix.”
”Our operating income improved to $2.0B in Q3 compared to the same period last year, resulting in a 14.6% operating margin. This profit level was reached while incurring SBC expense attributable to the 2018 CEO award of $190M in Q3, primarily driven by a new operational milestone becoming probable,” Tesla said in a letter to shareholders.
Tesla delivered 241,300 in the third-quarter of 2021. The deliveries consisted of 232,025 Model 3 and Model Y. The rest (9,275) were made up by Model S.
Tesla deliveries since Q4 2018
Tesla chart (1Y)
Share price of Tesla was little changed in the after-hours trading following the latest financial results, trading at around $861.54 per share. The stock is up by up 105.20% in the last year.
Tesla’s CEO, Elon Musk is currently the richest man on the planet with net worth of $241 billion, according to the Bloomberg Billionaires Index.
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Sources: Tesla, TradingView, Refinitiv
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