Tesla reported $21.45 billion in third-quarter revenue

Tesla announced higher-than-expected profits in the third quarter, while revenues failed to reach the level of expectations, which reduced the company’s after-hours trading by about 6% to its lowest level in almost a year, before adjusting slightly and only declining 3.5%.

Earnings were $1.05 per share, versus 99 cents forecast, and revenue was $21.45 billion, slightly below expectations of $21.96 billion.

Tesla’s net income (GAAP) for the third quarter of 2022 was $3.3 billion, with auto gross margins flat at 27.9%, which is exactly what they were in the second quarter of 2022.