## Tesla Earnings: What to Know ### Tesla stock rose in after-hours trading following the electric vehicle (EV) maker's release of its Q3 results showing a 56% gain in revenue. * Tesla beat Wall Street estimates and saw a profit of $1.05 per share, compared to the $1.01 expected by analysts, according to Refinitiv. * Revenue for the quarter was better than expected, rising to $21.45 billion, slightly higher than the $21.43 billion analysts projected. * Tesla is facing a competitive market as major automakers, including Ford and General Motors, are investing heavily in EVs. ### Output and Delivery * Tesla produced 365,923 vehicles in Q3 and delivered 343,830. * The automakers has delivered more than 900,000 vehicles in the first nine months of 2022, inching closer to its goal of delivering 1.5 million vehicles by year-end. ### EPS and Revenue Growth * Tesla's EPS grew by 61% year-over-year, as the automaker continues to benefit from increased production and deliveries along with higher prices for its vehicles. * Revenue increased 56% year-over-year in Q3, continuing a trend of solid revenue growth for the EV maker. ### Challenges Ahead * Tesla is facing increased competition from established automakers, rising raw material costs, and the uncertain economic environment. * These challenges will test Tesla's ability to maintain its current growth trajectory and achieve its long-term goals.
Comments