Tesla reported Q3 2018 Earnings on Wednesday with revenue of $6.82 billion and a profit $417 million or $2.90 per share. Tesla's earnings per share widely out-paces analyst estimates of losses of 15 to 19 cents per share.

Revenue on automotive production increased 158% year over year with a dramatic increase in sales during the summer of 2018 due to increased sales of the Model 3 sedan. Tesla also cites increased gross margins on the Model S and Model X due to increased efficiencies.  The Model 3's margin grew to above 20% while production rate increased and manufacturing costs dropped. Telsa is now moving an average of 4,300 Model 3s off the assembly line per week.

Tesla did not change their overall guidance for the year and production goals remain at 100,000 Model S and Model X units for 2018.

Tesla Report attached (PDF) - TSLA 3Q18 Update Letter

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Fantastic news. I did not think they would get to this point.

Me either. I thought they would run out of cash over the summer, but they seem to have just squeezed through to a profitable quarter. If they can maintain the momentum on the Model 3, they could actually make it.

8 minutes ago, Drew Dowdell said:

Me either. I thought they would run out of cash over the summer, but they seem to have just squeezed through to a profitable quarter. If they can maintain the momentum on the Model 3, they could actually make it.

God I hope so. And I could use some good news in our crazy world.

One has to wonder if this happened due to creative accounting or is it real. Only time will tell. 

@Drew Dowdell so they say 100,000 for Model S & X, what about guidance for the Model 3, Any change?

No mention that I saw skimming the document

Tesla turns a profit.  Congratulations.  Now do that every Quarter for the next three years, like GM and Ford are supposed to do.

Elon Musk just did a double middle finger and Stone Cold Stunner to the naysayers.  

 

Edited October 28, 20186 yr by smk4565

12 minutes ago, smk4565 said:

Elon Musk just did a double middle finger and Stone Cold Stunner to the naysayers.  

 

Ohhh absolutely. 

All I can say is: about time!

 

As much crazy as they are, would be nice to see them get out there and do well....