Tesla Falls Following Mixed Q3

By Investing.com Staff

Tesla (NASDAQ:) shares fell 4% after-hours Wednesday following mixed results for the third quarter. The EV maker beat on the bottom line but missed on the top line.

Tesla Q3 EPS of $1.05, $0.02 better than the analyst estimate of $1.03. Revenue rose 56% to $21.45 billion versus the consensus estimate of $22.5 billion. Operating margin reached 17.2% in the quarter.

The company said because of its significant delivery volume in the final weeks of the quarter, transportation capacity is becoming expensive and difficult to secure.

The company continues to believe battery supply chain constraints will be the main limiting factor to EV market growth in the medium and long term. Despite these challenges, they expected to continue to deliver every vehicle produced while maintaining strong operating margins.

The company said the initial phase of Tesla Semi deliveries is scheduled to begin in December 2022.

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