Tesla’s revenue fell short of expectations in the third quarter

Tesla announced its balance sheet for the period July-September 2022. Consequently, the company’s revenue in the third quarter of this year increased by 56 percent compared to the same period last year, reaching a record level of $21,500. millions. Tesla had revenue of $13.8 billion in the third quarter of last year.

Despite the increase in the company’s revenue during this period, it fell short of market expectations of $21.96 billion.

The electric car maker’s net profit also rose 103 percent in the third quarter of this year compared to the same period last year, reaching $3.3 billion. Tesla’s net profit was $1.6 billion in the third quarter of 2021.

Tesla’s earnings per share, which was $0.48 in the third quarter of 2021, increased to $0.95 in the same period this year.

In that period, Tesla delivered 343,830 vehicles globally.

In the statement made by Tesla, it was indicated that the inflation in the prices of raw materials affected the profitability of the company. (AA)