Categories AlphaGraphs, Earnings, Industrials
Earnings: Tesla (TSLA) Q3 revenue up 56%; profit beats estimates
Tesla Inc. (NASDAQ: TSLA) on Wednesday said its third-quarter earnings rose sharply and topped expectations. Driving the bottom-line growth, revenues increased by 56%.
Revenues of the Austin-based electric car maker advanced 56% year-over-year to $21.45 billion during the three-month period but missed estimates. The company produced a total of 365,923 vehicles and delivered 343,830 units, mainly comprising the Model-3 and Model-Y variants.
Earnings, excluding one-off items, rose to $1.05 per share in the third quarter from $0.62 per share a year earlier. Experts were looking for slower growth. Third-quarter unadjusted net income moved up to $3.29 billion or $0.95 per share from $1.62 billion or $0.42 per share in the same period of 2021.
Check this space to read management/analysts’ comments on Tesla’s Q3 report
TSLA’s stock has lost about 35% since the beginning of the year. It closed Wednesday’s regular trading higher but declined in the extended session soon after the announcement.
Prior Performance
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
These fast-food stocks can strengthen your portfolio this year. Here’s why
For American restaurant chains, the early months of the pandemic were a challenging period. But soon things changed for the better as people started ordering their favorite food items online
What to expect when McCormick & Company (MKC) reports Q1 results next week
Shares of McCormick & Company, Incorporated (NYSE: MKC) were up over 2% on Friday. The stock has dropped 12% year-to-date. The condiments manufacturer is scheduled to report its first quarter 2023
KB Home (KBH) Earnings: 1Q23 Key Numbers
KB Home (NYSE: KBH) reported total revenues of $1.38 billion for the first quarter of 2023 which was relatively flat compared to the same period last year. Net income of
