Tesla reports $1.62 billion Q3 2021 profit, handily beating analyst expectations

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Telsa has released its Q3 2021 results and as usual, the company has handily beat analyst expectations.

Telsa generated $13.757 billion in revenue and posted a $1.62 billion of GAAP net income. This translated into $1.86 earnings per share, beating analyst expectations of $1.58 per share.

The bulk of Tesla’s revenue was generated from Model 3 and Model Y sales, with a combined total of 232,102 units, while only 9,289 Models X and S were shipped during Q3 2021.

Tesla predicted 50% Year on Year growth for “over a multi-year horizon” which is expected to culminate into several million cars sold each year.

See the Quarterly update embedded below:

TSLA Q3 2021 Quarterly Update

via Telsarati

More about the topics: earnings, Tesla