Tesla reports record revenue

U.S. top electric automaker Tesla Inc. on Wednesday reported its financial results for the third quarter of 2022 with record revenue, operating profit and free cash flow.

The total revenue grew 56 percent year over year in the quarter to 21.5 billion U.S. dollars, impacted by growth in vehicle deliveries, the company said.

The operating income improved year over year to 3.7 billion dollars, resulting in a 17.2 percent operating margin.

Its quarter-end cash, cash equivalent and short-term marketable securities increased sequentially by 2.2 billion dollars to 21.1 billion dollars in the third quarter.

In the third quarter, Tesla produced over 365,000 vehicles and delivered over 343,000 vehicles.

The quarter production rate in China’s Shanghai factory surpassed previous quarterly records, the company said, adding that the factory in Shanghai “remains our main export hub, supplying vehicles to most markets outside of North America.” ■

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