Tesla reports record revenue, operating profit, free cash flow in Q3 results

US top electric automaker Tesla Inc on Wednesday reported its financial results for the third quarter of 2022 with record revenue, operating profit and free cash flow.

The total revenue grew 56 percent year over year in the quarter to US$21.5 billion, impacted by growth in vehicle deliveries, the company said.

The operating income improved year over year to US$3.7 billion, resulting in a 17.2 percent operating margin.

Its quarter-end cash, cash equivalent and short-term marketable securities increased sequentially by US$2.2 billion to US$21.1 billion in the third quarter.

In the third quarter, Tesla produced over 365,000 vehicles and delivered over 343,000 vehicles.

The quarter production rate in China's Shanghai factory surpassed previous quarterly records, the company said, adding that the factory in Shanghai "remains our main export hub, supplying vehicles to most markets outside of North America."