Teslas electric bounce back after interesting third quarter

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Teslas electric bounce back after interesting third quarter

Tesla had a dominating third quarter where their revenue skyrocketed after a series of production prevails.

Tesla had a dominating third quarter where their revenue skyrocketed after a series of production prevails.

photo via Flickr and labeled for reuse under the creative commons license

Tesla had a dominating third quarter where their revenue skyrocketed after a series of production prevails.

photo via Flickr and labeled for reuse under the creative commons license

photo via Flickr and labeled for reuse under the creative commons license

Tesla had a dominating third quarter where their revenue skyrocketed after a series of production prevails.

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After a series of ups and downs at the Tesla company during quarter 3, no one expected Tesla to thrive. Although CEO, Elon Musk, released details to shareholders on Thursday (10/25), about the companies quarter 3 information.  What was shown was something that was truly spectacular.

Teslas

Photo via Wikimedia and labeled for reuse under the creative commons license
Teslas

On Thursday, Tesla reported that they made a net revenue of $6.8 billion dollars and turned that into a $312 million dollar profit. Not only did the company’s net worth increase but so did the shareholders who say around a $1.75 increase on shares. Since the drop of the news, Tesla’s stock price increased throughout the day by as much as $50.

One of the biggest reasons for the massive increase in profit was the large upgrade in production during the third quarter of the Model 3. It was said that 53,239 model 3’s were produced during the third quarter which is about double the original number produced. On top of that 26,903 Model S & X were produced during this quarter. The quarter was capped off by an 80% delivery rate which Tesla was notoriously known to be slow at delivering their vehicles but they decreased the time span.

Tesla Model X

Photo via Wikimedia under the creative commons license
Tesla Model X

Tesla has laid out a similar plan for the 4th quarter where they want to turn another profit and produce similar numbers to the 3rd quarter. Only time will tell what Tesla is capable of but it seems that electrically powered cars are playing a larger role in the car industry and are being headed by Tesla.

 

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