Tesla 's third-quarter revenue hit a record high again, but was lower than analysts' expectations.
On October 20, Tesla's latest financial report showed that Tesla Auto 's total revenue in the third quarter was US$21.454 billion, and increased 56% year-on-year, compared with US$13.757 billion in the same period last year, compared with US$16.934 billion in the previous quarter. Tesla hit a record third-quarter revenue, but was below analysts' expectations of $21.96 billion, according to Refinitiv's IBES data.
net profit attributable to common shareholders was US$3.292 billion, up 103% year-on-year, higher than analysts' expectations of US$3.2 billion, compared with US$1.618 billion in the same period last year and US$2.259 billion in the previous quarter.
In terms of gross profit margin, the gross profit margin of automobiles in the third quarter was 27.9%, lower than analysts' expectations and lower than 30.5% in the same period last year, and it is also the second consecutive quarter in Tesla's gross profit margin is below 30%.
In terms of delivery, Tesla produced more than 365,000 cars in the third quarter and delivered more than 343,000 cars. The delivery performance in the quarter hit a new high, up 42.4% year-on-year and 34.9% month-on-month. However, this data is lower than the expected Wall Street of about 358,000 vehicles. Tesla previously stated that its annual production capacity will increase by 50%, that is, it will deliver more than 1.4 million vehicles this year. To achieve this goal, Tesla will deliver nearly 500,000 vehicles in the fourth quarter.
Tesla said that the rising raw material costs, the inefficiency of the new factories in Berlin and Texas have squeezed Tesla's profitability. At the same time, although logistics fluctuations and supply chain bottlenecks have improved, they are still direct challenges.
According to Reuters , senior analyst Jesse Cohen at Investing.com believes that Tesla may face the challenge of adding new capacity and is likely to be unable to achieve the goal of 50% growth in delivery volume this year. "Tesla's poor quarter is the latest sign that the uncertainty of macroeconomic has had a certain impact on its demand for electric car ."
In addition, Tesla failed to achieve its previously expected stock repurchase plan, which also disappointed some investors.
As of press time, Tesla US stock fell 4.39% after the market closed to US$212.3 per share.
