Tesla posts a wildly profitable Q3 despite difficult car market | Engadget

Looking ahead, the company expects to achieve a 50 percent average annual growth in vehicle deliveries "over a multi-year horizon" and eventually reach "industry-leading" operating margins. Overall, deliveries increased in Q3 by 20 percent compared to the previous quarter and increased by roughly 70 percent over Q3 2020. New features include Disney+ streaming, a scrolling arcade shooter dubbed Sky Force Reloaded, a "car wash mode," and various tweaks to improve the vehicle's cold weather performance. In the short term, however, "Q4 production will depend heavily on availability of parts, but we are driving for continued growth," Tesla CFO Zachary Kirkhorn said during the call. "Tesla continues to break molds in these [existing] vehicle segments and we hope to do so with each new product," Martin Viega, Tesla's Senior Director of Investor Relations, noted. The company reported on Wednesday that it had a net income of $1.62 billion five times more than it did this time last year. "As we've said publicly, we'll eventually expand the vehicle lineup to get to larger volumes.
Despite a global pandemic and ongoing chip shortage, Tesla continues to make money hand over fist. The company reported on Wednesday that it had a net income of $1.62 billion five times more than it … [+1393 chars]