Going forward, is $Tesla a good bet?

Tesla 3Q Earnings Key Highlights:

• P/E ratio has dropped from 78x to 66x

• In Q3, Tesla had a gross profit of $5.382B, and its total revenue grew by 56% compared with this time last year.

• Tesla is still looking to end the year with a growth of 50%, as previously indicated.

• Tesla's operating margin of 17.2% is above the S&P average

• Tesla's ASP declined $2,150 q/q to $53.5k

• Tesla's average COGS declined $1,950 q/q to $39.4k

• Tesla says they deployed a record 2.1 GWh of energy storage in Q3—a 62% increase year over year

• The total number of 4680 cells produced increased 3x in Q3 over Q2

• 56% growth in revenue year over year

• Tesla plans to introduce front gigs castings and structural battery packs at Giga Berlin before the end of this year.

• Tesla says they now have a record $21.1 Billion in cash, driven by free cash flow of $3.3 billion.

• Tesla says Cybertruck is no longer in development phase and is now in tooling phase.

• Tesla Semi has entered early production as well

• Tesla remains focused on increasing vehicle production as quickly as possible by increasing weekly build rate in Fremont and Shanghai and progressing steadily through the production ramps in Berlin and Texas.

• Logistics volatility and supply chain bottlenecks remain immediate challenges, although improving.

• Continues to believe that battery supply chain constraints will be the main limiting factor to EV market growth in the medium and long terms.

• Despite these challenges Tesla expect to continue to deliver every vehicle produced while maintaining strong operating margins

• The third quarter of 2022 was another strong quarter with record revenue, operating profit and free cash flow.

• In the last 12 months, free cash flow exceeded $8.9B.

• Operating margin reached 17.2% in Q3. Achieved an industry-leading operating margin3 while encountering material headwinds YoY.

• Raw material cost inflation impacted profitability along with ramp inefficiencies from Gigafactory Berlin-Brandenburg, Gigafactory Texas and 4680 cell production

• Tesla expects that smoothing out outbound logistics throughout the auarter will improve cost per vehicle.

• Tesla drivers have now collectively driven 59 million miles on FSD Beta. There are 160,000 FSD Beta users.

• Revenue from Services & Other reached an all-time high.

• Giga Berlin produced over 2,000 Model Ys per week toward the end of Q3.

• Paid supercharging grew to more than 3x compared to the prior year & we are working to further accelerate our deployments.

• Services & Other gross profit also reached record level in Q3, impac by used car & part sales.

• Tesla has more than 1.9 million units of installed capacity.

• Tesla Semi deliveries are scheduled to begin in December 2022

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