Tesla is a regularly talked about company and the CEO, Elon Musk, is usually at the center of the discussion. The hectic year is coming to a close and despite doubts from investors, the company is set to finish out the year with the stock trading up double digits.
In 2018, Tesla news was coming out a lot more frequently than investors would have liked. Elon Musk posted an errant comment on Twitter that led to a $20 million SEC fine. Then he made headlines smoking pot on the Joe Rogan podcast.
Tesla’s Model 3 started to roll out this year and the number of deliveries increased by tens of thousands every quarter.
During the third quarter, Tesla produced 4,300 Model 3’s each week and 56,065 were delivered to customers. They delivered a total of almost 70,000 vehicles, which kept them on par with their peers for the first time.
This led the company to a revenue of $6.8 billion and free cash flow (cash left over after operating expenses and capital expenditures are paid for) of $881 million.
Musk said the company is on track to deliver more Model 3s in the fourth quarter. Through this, the company will finish 2018 with profitable operations.