In the third quarter, the company earned $ 331 million.
Tesla has reported its financial results for the third quarter of this year to shareholders. This is the fifth consecutive quarter that Elon Musk’s company has completed with a profit.
In three months of record sales, Tesla earned $ 331 million. This is by 218%, that is, more than three times more than in the second quarter of this year, when Tesla became one of the few automakers in the world who was able to earn anything at all in the days of the pandemic. Compared to the same period last year, Tesla’s profit increased by 131%.
Analysts expected a profit from Tesla, but underestimated its size. Thus, the consolidated forecast assumed a profit of 55 to 67 cents per share, and the company earned 76 cents per share.
The carmaker’s revenue also exceeded analysts ‘ expectations. For three months, Tesla received 8.7 billion dollars against the expected 8.4 billion.
The success of Tesla is primarily explained by record sales of electric vehicles, which amounted to almost 140 thousand units in three months. Elon Musk confirmed to investors that the company plans to sell 500 thousand cars by the end of the year, which means that in the last quarter, Tesla will have to hand over at least 180 thousand electric vehicles to customers.