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Tesla beats quarterly revenue estimates

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Reuters

(Reuters) – Tesla Inc on Wednesday beat Wall Street expectations for third-quarter revenue on the back of record deliveries as the electric carmaker navigated through a prolonged global shortage of chips and raw materials. Tesla, the world’s most valuable automaker, has defied the pandemic and the global supply-chain crisis, posting record revenue for the fifth consecutive quarter in the July to September period, fueled by a production ramp-up at its Chinese factory. Led by billionaire Elon Musk, Tesla faces challenges of maintaining its growth in the face of a prolonged chip shortage, with it…

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