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Tesla beats quarterly revenue estimates -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: A Tesla vehicle drives past Tesla’s primary vehicle factory after CEO Elon Musk announced he was defying local officials’ coronavirus disease (COVID-19) restrictions by reopening the plant in Fremont, California, U.S. May 11, 2020. REUTERS/Ste

(Reuters) – Tesla (NASDAQ:) Inc on Wednesday beat Wall Street expectations for third-quarter revenue on the back of record deliveries, as the electric carmaker navigates through a prolonged global shortage of chips and raw materials.

The carmaker, led by billionaire entrepreneur Elon Musk, said revenue rose to $13.76 billion from $8.77 billion a year earlier. Analysts had expected revenue of about $13.63 billion, according to IBES data from Refinitiv.

Tesla deliveries rise for the sixth consecutive quarter https://graphics.reuters.com/TESLA-RESULTS/zdpxorxbgvx/chart.png

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