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Tesla stock reaches new record high



The shares of Tesla Inc. rose on Friday and reached a new record high after the electric carmaker reported record revenue and profits for the third quarter of 2021.

In its earnings on Wednesday, Tesla noted that its revenue soared 57% to reach $13.76 billion, with diluted earnings per share rising 433% to $1.44.

Tesla’s electric vehicle deliveries in Q3 2021 has hit a record-breaking 241,300, a 20% growth since Q2 2021 and a 73% growth when compared to the same period last year.

“The third quarter of 2021 was a record quarter in many respects. We achieved our best-ever net income, operating profit and gross profit. Additionally, we reached an operating margin of 14.6%, exceeding our medium-term guidance of operating margin in low-teens,” the report noted.

Tesla’s stocks increased by 1.60% intraday to sell for a high of $908.49 a share which is 28% higher since the start of the 2021.

READ; Tesla installs 8 charging stations in Morocco, first in Africa

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