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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.

Tesla breaks profit record at $1.6 Billion

Tesla breaks profit record at $1.6 Billion

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.

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