Investor's Corner

Tesla Q3 Results Upbeat, +10% in After Hours Trading

Black-P85-Fremont-Factory

In its Q3 shareholder letter, electric car maker Tesla Motors announced that it had produced a record-breaking 13,091 vehicles, and delivered, another record-breaking, 11,603 new vehicles in the quarter.

The company indicates that it plans on delivering 17,000 to 19,000 vehicles in Q4 resulting in 50,000 to 52,000 deliveries for the year.

As outlined in Tesla’s shareholder letter, “In Q3, we exceeded our plan by producing 13,091 vehicles, including our first Model X vehicles, despite a one-week shut down to expand manufacturing capacity.”

Total Q3 non-GAAP revenue was up nearly 33% from a year ago at $1.24 billion for the quarter. Total revenue was $937 million.

Q3 Automotive gross margin excluding $39 million of ZEV credit revenue was 23.7% on a non-GAAP basis and 22.8% on a GAAP basis.

The full Tesla Q3 Shareholder Letter can be obtained here.

Tesla Third Quarter Earnings Highlights

Comments
To Top