Tesla reports record revenue and beats on earnings (2 min read)
Tesla reported earnings higher than estimates and its revenue grew 33% from a year ago. However, automotive margins came in at 25.9%, the lowest in the last five quarters. Its vehicles’ average sales price has been trending downwards for many years, but Tesla said affordability would be necessary for them to sell multiple million of cars annually. Earlier this month, Tesla also reported vehicle delivery and production numbers that set a new record for the company.