Tesla has posted record quarterly revenue and operating profit, though analysts said revenue came in slightly under expectations.

At USD21.5bn, third quarter revenues were some 55% ahead of the same quarter last year.

Operating profit was up 84% on last year to USD3.7bn for a 17.3% operating margin.

However, Tesla also said that the quarter also saw higher raw material and logistics costs.

Vehicles produced for the quarter were 366,000 units, some 54% ahead of last year, while deliveries were a little under that at 344,000 units (42% ahead of last year).

Tesla said that in each of its four factories availability of components posed ‘less of an issue in the quarter’, but that transportation capacity during peak delivery periods ‘became increasingly challenging’.