The revenue of the electric car giant Tesla exceeded expectations. The company’s net profit reached $2.2 billion, up 17%. Boosted by a strong balance sheet, the company’s shares surged by 22% in a single day. As a result, Elon Musk added another $33.5 billion to his wealth.

American electric car giant Tesla’s revenue surpassed expectations. Tesla announced its balance sheet for the third quarter of this year. The company’s revenue for the third quarter of the year increased by 8% compared to the same period last year, reaching $25.2 billion. The company’s net profit for the third quarter of the year also increased by 17% compared to the same period last year, reaching $2.2 billion. In the same period last year, a profit of $1.9 billion was recorded. Tesla’s earnings per share also increased from 53 cents in the same period last year to 62 cents in the third quarter.

TESLA SHARES SOARED
The company’s shares hit a historic high due to the surpassing balance sheet. Tesla shares experienced the biggest surge in a decade, rising by 22%. This surge increased Musk’s wealth to $33.5 billion, solidifying his lead in the Bloomberg Billionaires Index. Musk’s wealth rose to $270.3 billion, surpassing Jeff Bezos, who is in second place, by $61 billion. The company’s market value increased by $150 billion in just one day.