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Shares in US alternative energy firm Tesla are trading over 5% higher on Thursday following another bumping quarterly earnings report from Elon Musk and co. The company has now reported five consecutive quarters of growth which has helped lift its share price by over 400% on the year. This makes it one of the best-performing stocks this year.
Tesla reported third-quarter earnings per share of $0.76, beating estimates of a $0.56 EPS. Revenues were also higher than expected at $8.77 billion versus the $8.36 billion forecast.
Looking at the breakdown of the data, revenue from automotive was $7.6 billion over the quarter, comprising 91% of total quarterly revenues. Gross margins within that component rose from 18.7% last quarter to 23.7%. In terms of regulatory credits, Tesla reported revenues of $397 million. This almost doubled the income from “green” credits over the year.
On Track With Delivery Forecasts
The company noted that it had set a new quarterly record for vehicle...
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