https://external-preview.redd.it/Kga2FFH2_EO4g4TQZYySUKSrAZpJYsYKGkv_rsLtPwc.jpg?auto=webp&s=849edacf9d4d097b7af74eff444d06e0a8c37453
Tesla reported third-quarter earnings after the bell. Shares fell by more than 4% after hours after the results crossed.
Here are the results.
**Earnings: $1.05 vs 99 cents per share (adjusted) expected**
**Revenue: $21.45 billion vs $21.96 billion expected**
Tesla’s net income (GAAP) for Q3 2022 reached $3.3 billion, with automotive gross margins holding steady at 27.9%, exactly where it stood in the second quarter of 2022.
During the same period last year, Tesla reported $1.62 billion in profits.
Automotive revenue came in at $18.69 billion, an increase of 55% from a year ago.
Tesla reiterated previous guidance in its shareholder deck on Wednesday, saying: “Over a multi-year horizon, we expect to achieve 50% annual growth in vehicle deliveries.”
The company reiterated that deliveries of its Semi electric truck will begin in December. The product was first announced in Dec. 2017.
The company previously reported that its deliveries for the quarter ending September 30 reached 343,000 and vehicle production reached 365,000. Deliveries are the closest approximation of sales reported by Tesla. Shares have dipped more than 17% since that weekend report on October 2.
Full article: [https://www.cnbc.com/2022/10/19/tesla-tsla-earnings-q3-2022-.html](https://www.cnbc.com/2022/10/19/tesla-tsla-earnings-q3-2022-.html)
View Reddit by predictany007 – View Source
LEARN ABOUT: Investing During Inflation
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
>Tesla’s stock price fell by around 6% after the company reported its third-quarter earnings results, which showed that revenue came in just shy of expectations. Tesla is facing challenges including soaring commodity and energy prices, shipping problems, and executive turnover. However, the company also had a record month for vehicle production in China during September.
Looking ahead to the fourth quarter, investors will be focused on Tesla’s outlook for deliveries and gross margins. But it remains to be seen whether or not Tesla can address all of the macroeconomic concerns heading into next year.
Your mom comes light in revenue, beats my earnings
Timberrrrrrrrrr
Basically demand is falling and the price increase is the only thing that saved them for now. When the actual recession hits, orders will fall off a cliff.