(Tesla) Tesla Inc.’s revenues rose by 57% in the third quarter of 2021 from the prior year to a record $13.757 billion. The revenue was more than expected $13.63 billion.
Automotive revenues were $12.057 billion, up 58% from the prior year, with a gross margin of 30.5%, up by 281 basis points. Overall gross margin was at a record 26.6%.
The company generated $806 million in energy business revenue.
GAAP net income reached $1.618 billion, up 389% from the prior year. Analysts had projected a lower $1 billion in net income.
Adjusted earnings per share rose by 145% from the prior year to $1.86 in the third quarter, surpassing expected $1.59.
Tesla still maintained its prior guidance and expects to hit 50% growth in annual vehicle deliveries on a multi-year timeline.
TSLA: NASDAQ is down -0.93% on premarket.
