A highlight from 1247: Tesla posts record revenue and profits in third quarter | 21 Oct 2021

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Coming up on podcast. Twelve hundred and fifty one tesla posting record revenue and profits for the third quarter. It's one of those financial shows but we never go too. Deep on this podcast. Just the headline stick around. I'll tell them all. Yeah loads of tesla news dominates today. We're talking safety schools and run rights and things like that but also there's room for audi rs neutrons and that terrorists on the podcast as their stick around for lots of news. Well good morning. Good afternoon or good evening. You're listening in the wells. Welcome to be new staley for thursday twenty first of october. My name is marcy nly. And i go through every story because i don't have to depending on whether this is wednesdays news for you will thursdays news view your times etc. Well today yesterday was really about tesla's record revenue and profits in the third quarter and they're allergic great financial. Podcasts out there. Really aimed at those people who have their investment pensions their net worth etc invested in stockton shares of tesla. Vasie the company through sutton filter and that's fine. Lots of listeners. Won't to hear the pro stuff. I recommend bows for the really in-depth financial stuff. We always likes to take a look at it on this show because of the global story around the electrification of transport. Now tesla repulsing one point six two billion dollars in gap net income for the quarter. Let's compare that to a year ago course a year on year for the same quarter. It was three hundred thirty one million same time last year. One point sixty billion net income. This quarter second time. It surpassed a billion by the way and the record results driven by improved gross margins on their automotive business. Now tesla doesn't have the kind of mal of software services companies in silicon valley. That's the holy grail but equally they haven't got the margins of more. I would say old-fashioned carmakers that a well-known for stamping bits of metal into certain shapes and sticking an engine in the front. They've got margins. Those companies could dream of gross margin of thirty point five percent on their automotive business which is stunningly impressive. And twenty six percent enroll both of which records at least the last five quarters. Cnbc rights ultimately revenue rose twelve billion to twelve billion rather and costs of automotive revenue announce amounted to eight point. Three eight billion. This is over the

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