The electric carmaker's earnings were boosted by an uptick of vehicle deliveries in the third quarter as well as by sales of environmental regulatory credits to other automakers.

Tesla also affirmed its target to deliver half a million vehicles by the end of this year.

The company has enjoyed a meteoric rise under its out spoken and sometimes controversial chief executive, Elon Musk.

It has defied the downward trend of the wider auto industry in 2020 with steady sales and profitable quarters, sending shares up around 400% this year.

Tesla's market capitalization, at 394 and a half billion dollars, is the largest among all automakers in the world, despite the company trailing its rivals in sales, revenue and profit.