US EditionTesla’s Profit Fell in Third Quarter Even as Sales Rose. Musk Sees Robotaxi Expansion by Year End
Tesla's revenue rose to $28.1 billion as sales increased 7%, but profit margins fell due to discounts and incentives amid rising competition in the electric vehicle market.
- On Wednesday, Tesla, the car company run by Elon Musk, reported net income fell to $1.4 billion, or 39 cents a share, while revenue rose to $28.1 billion in the June through September period.
- Price cuts and incentives have pressured Tesla's margins as the company fought rival EV makers, while sales surged from buyers rushing to claim a $7,500 federal tax credit before it expired on Oct. 1.
- On an adjusted basis, earnings were 50 cents per share, below the 56 cents forecast by Wall Street analysts, while gross margins hit 7%.
- The drop extended a streak as Tesla shares fell 1% and financial analysts noted this marks the fourth quarter in a row profit declined.
- Looking beyond the quarter, Tesla's battery storage sales helped revenue even as Musk had forecast 20% to 30% sales growth for 2025, which has not been met.
61 Articles
61 Articles
Associated Press News
Tesla's profit fell in third quarter even as sales rose. Musk sees robotaxi expansion by year end
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply.
Tesla's shares fell 4.4% on Thursday after the electric vehicle manufacturer led by Elon Musk extended its run of defaults on profit estimates to a fourth quarter, even when sales reached historic peaks. Increased costs and lower revenues from highly profitable regulatory credits reduced Tesla's margins, underlining that even the electric vehicle manufacturer is feeling the cost pressures that spread through the automotive industry as President …
Tesla’s Q3 results reveal more EVs sold, but profit dips
Tesla's financial results for the third quarter of 2025 are in, and the numbers tell a confusing story. The company set a new record for revenue, pulling in $28.1 billion. It also managed to deliver 497,099 vehicles to customers. And yet, despite selling more EVs than ever, the profits took a major hit. Investors were clearly not impressed, and the stock price fell almost 5% in after-hours trading. The big question is: how does a company make mo…
Tesla's Record Revenue Overshadowed by Declining Profits
Tesla Inc. announced record revenue for the third quarter of 2023, but its profits hit an 18-month low. Under the leadership of CEO Elon Musk, the electric vehicle maker posted an incredible annual revenue of $28 billion, or £21 billion. That’s a 12% jump over the same time last year. In light of such staggering revenue growth, the company’s profits crumbled by 37%, shocking and alarming investors and analysts alike. Tesla’s market cap is valued…
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