Tesla breaks profit record at $1.6 Billion
Tesla made $1.618 billion in profit in the third quarter, almost quintupling the 331 million registered in the same period last year.
The company led by Elon Musk indicated this Wednesday after the closing of the New York stock exchanges that the value includes the application of accounting standards – the so-called GAAP.
In the first nine months of the year, Tesla accumulates profits of $3,198 billion.
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Revenues from automotive operations also reached a new record, amounting to $10,206 billion, a year-on-year growth of 58% and surpassing for the first time the $10 billion mark.
In terms of regulatory credits, which correspond to the sale of carbon dioxide emission credits to other car manufacturers or companies in other sectors, Tesla cashed in $279 million, 30% less than a year earlier.
Tesla’s gross margin was 30.5%, an increase of 281 basis points compared to the third quarter of 2020.