Tesla Inc, TSLA:NSQ summary - FT.com - Markets data

Elon Musk's electric car maker Tesla has released its Q3 2021 financial results. The company reported revenues of $16.25 billion, an increase of 76% compared to the same period last year. This is the highest quarterly revenue ever recorded by Tesla, and it beats the previous record of $14.29 billion in Q2 2021.

Tesla's net income for Q3 2021 was $2.62 billion, up from $721 million in the same period last year. The company also reported a net profit margin of 16.5%, showing an improvement from the previous quarter's 9.4%.

Tesla's vehicle production has been steadily increasing, with the company delivering 24.67 million vehicles during Q3 2021, compared to 24.65 million in Q2 2021 and 24.62 million in Q1 2021. The company also produced a record 24,672 vehicles in September alone.

Despite its success, Tesla has faced challenges, including supply chain disruptions due to the ongoing COVID-19 pandemic, as well as the global shortage of semiconductor chips. These factors have led to production bottlenecks, causing delays and impacting the delivery of some models.