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Electric carmaker Tesla beats quarterly revenue estimates

Tesla 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.

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Electric carmaker Tesla beats quarterly revenue estimates
GNN Media: Representational Photo

Despite a global chip shortage that has marred the auto industry, Tesla was able to post record deliveries for the quarter.

The company has weathered the chip crisis better than rivals, with its overall deliveries surging 20% in the July to September period from its previous record in the second quarter, marking the sixth consecutive quarter-on-quarter gains.

"We continue to target our first Model Y production builds in Berlin and Austin before the end of the year," Tesla said.

The carmaker, led by billionaire entrepreneur Elon Musk, said revenue rose to $13.76 billion from $8.77 billion a year earlier. Analysts had expected revenue of about $13.63 billion, according to IBES data from Refinitiv.

SOURCE: REUTERS

Faisal Ali Ghumman

Mr. Ghumman is a seasoned journalist who has 19 years of diversified experience in print, electronic and digital media. He has worked with 92 News HD, Daily Pakistan Today, Daily The Business, Daily Dawn, Daily Times and Pakistan Observer as News Reporter, Feature Writer, Editor, Web Content Editor and Article Writer. Mr Ghumman has graduated from the Bahauddin Zakariya University Multan and is currently enrolled in M.Phil in Mass Communication at the University of Punjab.

World

23 killed after bus plunges into river

Twenty three people drowned when a bus travelling to a wedding in central Kenya was swept off a bridge into a flooded river.

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23 killed after bus plunges into river

Nairobi: In an unfortunate incident, at least 23 people were killed after a bus travelling to a wedding plunged into the Enziu River in the eastern Kitui town.

Twenty three people drowned when a bus travelling to a wedding in central Kenya was swept off a bridge into a flooded river.

Reportedly, 12 people had been rescued, including four children. It remains unclear how many passengers were aboard the bus.

Reports added that all the passengers, were choir members of Mwingi Catholic Church and had been travelling for their male colleague’s wedding when the accident occurred in Kitui County. 

Reports further added that the driver was trying to cross fast-flowing waters passing over the bridge but the force was too strong, sweeping the bus beneath the churning currents. 

“We have this terrible, terrible accident that happened here this morning,” Kitui governor Charity Ngilu told reporters on Saturday. 

“The bodies that have already been retrieved right now are over 23. We have more bodies in the bus,” she said, adding efforts to recover the corpses would resume on Sunday morning.  

Officials, however, have started an investigation into the incident.

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Sports

Kamyab Jawan Sports Drive to be launch on Dec. 6

Prime Minister Imran Khan will inaugurate the drive at Jinnah Stadium Sports Complex, Islamabad.

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Kamyab Jawan Sports Drive to be launch on Dec. 6

Islamabad: The government is launching ‘Kamyab Jawan Sports Drive’ in Islamabad on Monday (December 6), in a bid to revive sports culture for producing national heroes.

Prime Minister Imran Khan will inaugurate the drive at Jinnah Stadium Sports Complex, Islamabad.

Special Assistant to the Prime Minister on Youth Affairs Muhammad Usman Dar said this would be the biggest sports programme in the country’s history that would enable active participation of the youth in healthy physical activities.

He said under its first phase, twelve different games for male and ten for female would be arranged across 25 regions under the talent hunt programme. The age bracket for the both would be 11-25 years.

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Regional

Sindihis celebrate culture day with traditional zeal, fervor

Various programmes have been organized at government and no-government level across the province to celebrate the day.

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Sindihis celebrate culture day with traditional zeal, fervor

Karachi: Sindh Culture Day is being observed with traditional zeal and fervor on Sunday (December 5) to promote the centuries old culture of Indus valley civilization. 

Various programmes have been organized at government and no-government level across the province to celebrate the day.

Sindh Chief Minister Syed Murad Ali Shah in his message on the occasion of Sindh Culture Day said this day gives us the lesson to respect all traditions and customs without any discrimination.

He said this day is the day against racism, extremism and discrimination.

Meanwhile, a Sindhi Culture rally was organized by PTI leaders in Umerkot today.

Addressing the rally, Federal Minister for Communications and Postal Services Murad Saeed severely criticized the performance of Sindh government.

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