🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Tesla Falls Following Mixed Q3

Published 10/19/2022, 04:18 PM
Updated 10/19/2022, 04:23 PM
© Reuters.  Tesla (TSLA) Falls Following Mixed Q3
TSLA
-

By Investing.com Staff

Tesla (NASDAQ:TSLA) shares fell 4% after-hours Wednesday following mixed results for the third quarter. The EV maker beat on the bottom line but missed on the top line.

Tesla reported Q3 EPS of $1.05, $0.02 better than the analyst estimate of $1.03. Revenue rose 56% to $21.45 billion versus the consensus estimate of $22.5 billion. Operating margin reached 17.2% in the quarter.

The company said because of its significant delivery volume in the final weeks of the quarter, transportation capacity is becoming expensive and difficult to secure.

The company continues to believe battery supply chain constraints will be the main limiting factor to EV market growth in the medium and long term. Despite these challenges, they expected to continue to deliver every vehicle produced while maintaining strong operating margins.

The company said the initial phase of Tesla Semi deliveries is scheduled to begin in December 2022.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.