Tesla's Q3 Earnings Showcase Its Competitive Strengths
Tesla (NASDAQ: TSLA) stock undoubtedly commands a premium valuation. Its market cap currently sits at $911 billion, which puts the company's valuation higher than the combined valuation of the next eight largest automakers. Whether that valuation is fairly earned or not, it's hard to deny that investors feel Tesla's business is firing on all cylinders.
Last week, the electric vehicle maker reported impressive third-quarter results: Revenue soared 58% year over year to $12.1 billion, operating cash flow jumped 31% to $3.1 billion, and net income came in at $1.6 billion, marking Tesla's ninth consecutive quarter of GAAP profitability. This performance is made all the more impressive because Tesla is dealing with broader market supply chain chaos and semiconductor shortages. The report also showcases the competitive strengths that differentiate Tesla from its rivals. Let's delve into this further.
Image source: Tesla.
Source Fool.com
