TESLA

Elon Musk's company surprises even in the balance sheet

The company, the world's most valuable vehicle maker, challenged the pandemic and global chip shortage, posting record revenue for the fifth straight quarter, helped by the start of production at its factory in China.

The company had revenues of 13.76 billion dollars, compared to 8.77 billion in the third quarter of last year. Analysts, on average, expected revenue of about $13.63 billion, according to Refinitiv data.

Tesla's gross margin, excluding environmental credits, rose to 28.8% from 25.8% in the previous quarter, despite cost pressures generated by the supply chain.

"A variety of challenges, including semiconductor shortages, port congestion and blackouts, have impacted our ability to keep factories operating at full speed," said Tesla.

"We continue to operate our production lines close to full capacity as conditions permit. While sequential growth is our goal, the magnitude of growth will be determined primarily by external factors," the company said.

Text Subrat Patnaik