Tesla earnings rebound but still short of earlier this year

By Chris Isidore, CNN Business

Tesla posted improved third quarter earnings that were generally in line with Wall Street forecasts, but profits were still just short of where they were at the start of the year before supply chain problems ate into its production and sales.

In its earnings summary issued to investors Wednesday, Tesla did not say whether or not it still will be able to reach its goal of a 50% increase in car deliveries this year compared to 2021.

It did say that “over a multi-year horizon, we expect to achieve a 50% average annual growth in vehicle deliveries,” which appears to back off slightly from its target of 50% growth this year. It has a presentation for investors scheduled for later this evening.

— This is a developing story. It will be updated.

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