Tesla Price Increases Lead To Better Than Expected Profits In Quarterly Report

Driven by the price increases, the Austin, Texas-based electric vehicle automaker bested analysts expectations by posting a profit of $2.27 (2.22 euro) per share versus a consensus of $1.81 (1.77 euro).

Tesla's record revenue streak ended with total revenue falling from $18.76 billion (18.37b euro) to $16.93 billion (16.58b euro) and coming in below analysts estimated $17.1 billion (16.74b euro).

Global inflation conditions led to a decrease in automotive gross margin to 27.9%, lower than the previous quarter and last year.
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