Tesla (TSLA) has shared its earnings report for Q3 2022, and in it is a wealth of information including how currency headwinds have impacted the company’s results for the third quarter by $250 million.
Looking over the earnings report more in-depth, it’s noted that the company increased ASP and things like growth in vehicle deliveries, while also facing “negative FX impact of ~$250M” and higher raw material, commodity, logistics, warranty, and expedite costs.
Other details coming out of the earnings report include an increase in vehicle deliveries in Q3 and total revenue growth of 56 percent year-over-year in Q3 to $21.5 billion. With that being said, the year-over-year revenue was similarly affected by negative FX impact.
Numbers wise, the earnings report lists the following details for Q3 2022:
- Automotive revenues: 18,692
- Regulatory credits: 286
- Automotive gross profit: 5,212
- Automotive gross margin 27.9%
For more on Tesla’s Q3 2022 earnings, be sure to read through our other coverage including how Tesla’s (TSLA) Q3 2022 earnings results missed on revenue and beat EPS, and where you can listen to the Tesla (TSLA) Q3 2022 earnings call if you’re interested in diving deeper into the company’s latest reports.