Tesla reported third-quarter results after the bell on Wednesday. The stock rose about 3% after hours as the company beat expectations on EPS and revenue, and reported its fifth consecutive quarter of profit. Gordon Johnson, CEO and founder of GLJ Research, joins "Squawk Box" to discuss. Subscribe to CNBC PRO for access to investor and analyst insights on Tesla and more: https://cnb.cx/2BT2E7y Elon Musk’s electric car and renewable energy company, Tesla, reported third-quarter results after the bell on Wednesday. The stock was up 5% in premarket trading Thursday as the company beat expectations on EPS and revenue, and reported its fifth consecutive quarter of profit. Here is how Tesla performed versus analyst expectations: Earnings per share (adjusted): 76 cents vs 57 cents, per Refinitiv Revenue: $8.77 billion vs $8.36 billion, per Refinitiv Net income (GAAP): $331 million vs $394 million, per Refinitiv The company already reported that it delivered 139,300 vehicles during the quarter, a new record for Tesla. Automotive revenue comprised $7.6 billion, about 91% of the total for the quarter. Automotive gross margins, excluding regulatory credits, rose from 18.7% to 23.7% sequentially. Tesla raked in $397 million in regulatory credits during the quarter nearly doubling the amount it made from these “green” credits year-over-year. Operating expenses jumped 33% from last quarter to $1.25 billion, as Tesla embarked on building new factories in Austin, Texas and Brandenburg, Germany, among other things. Musk talked about production timelines for those factories in the company’s earnings call. “I should make a point that for Berlin and Austin, we do expect to start delivering cars from those factories next year but because of the exponential nature of the spool up of manufacturing plants especially one with new technology, we’ll start off very slow at first and then become very large.” He cautioned investors that it could take 12 to 24 months even to hit full capacity at these new factories after they begin operations. Tesla previously planned to start production at the Berlin factory in July 2021. » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC https://www.cnbc.com/select/best-credit-cards/ #CNBC #CNBCTV