GMBStaff

 18 Oct 23

tl;dr

<p>Tesla's Q3 margins tightened, but the company maintains its full-year deliveries guidance. Despite falling short in Q3, Tesla's stock rose in after-hours trading as the automaker reported a 42% year-over-year increase in revenue. Tesla remains confident in reaching its annual delivery targe...

Tesla (NASDAQ:TSLA) saw its margins tighten in Q3, but the company is holding the line on its full-year deliveries guidance. Despite falling slightly short in Q3, Tesla's stock moved higher in after-hours trading. The automaker reported a 42% year-over-year increase in revenue, but its gross margin fell to 22.9% from 25.8% a year ago. However, Tesla remains confident in reaching its annual delivery target of 900,000 vehicles. The company also highlighted its progress in expanding production capacity and optimizing its supply chain to meet strong global demand for electric vehicles.

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