Tesla beats quarterly revenue estimates By Reuters

© Reuters. FILE PHOTO: A Tesla car drives previous Tesla’s main car manufacturing unit after CEO Elon Musk introduced he was defying native officers’ coronavirus illness (COVID-19) restrictions by reopening the plant in Fremont, California, U.S. Might 11, 2020. REUTERS/Ste

(Reuters) – Tesla (NASDAQ:) Inc on Wednesday beat Wall Avenue expectations for third-quarter income on the again of file deliveries, as the electrical carmaker navigates by means of a protracted international scarcity of chips and uncooked supplies.

Regardless of a worldwide chip scarcity that has marred the auto trade, Tesla was capable of submit file deliveries for the quarter.

The corporate has weathered the chip disaster higher than rivals, with its general deliveries surging 20% within the July to September interval from its earlier file within the second quarter, marking the sixth consecutive quarter-on-quarter good points.

“We proceed to focus on our first Mannequin Y manufacturing builds in Berlin and Austin earlier than the tip of the yr,” Tesla stated.

The carmaker, led by billionaire entrepreneur Elon Musk, stated income rose to $13.76 billion from $8.77 billion a yr earlier. Analysts had anticipated income of about $13.63 billion, in keeping with IBES knowledge from Refinitiv.

Tesla deliveries rise for the sixth consecutive quarter

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