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Tesla reports strong Q3 with double net income, 56% growth in revenue YoY

Tesla published it third quarter results with a whopping 103% rise in its net income (GAAP) compared to the same period last year. The company also witnessed a growth of 56% in its total revenue year-on-year.  The company clocked a net income (GAAP) of US$ 3.3 billion and the total revenue of US$ 21.5 billion in Q3 of 2022.   In last 12 months, Tesla's free cash exceeded US$ 8.9 billion, while its operating margin reached 17.2%  The report suggests that the company faced challenges due to factors such as raw material cost inflation, rising US dollar, and the inefficiencies from Gigafactory Berlin Brandenburg, Gigafactory Texas and 4680 cell production. Tesla did complain about transportation capacity getting more expensive and difficult to secure. As a result the company began transitioning to a smoother delivery pace, leading to more vehicles in transit at the end of the quarter.   While Tesla plans to increase its productions at Fremont and Shanghai, it f...