Tesla beats on earnings and sales even as auto revenue declines
Tesla said paid Full Self-Driving customers reached nearly 1.5 million as investors pressed for updates on robotaxis and margins.
- On Wednesday, Tesla beat Wall Street earnings estimates despite automotive revenue declining year-over-year. The company delivered 486,532 vehicles this quarter, roughly 2% below the year-ago number.
- Rising interest rates and energy costs pressured automotive margins this year, while competition from Chinese EV makers BYD and Xiaomi gained share in 2025. Tesla also faced expiring federal EV tax credits.
- Tesla CFO Vaibhav Taneja reported nearly 1.5 million paid Full Self-Driving customers globally as of June. Capital expenditures are expected to top $25 billion this year, up from $8.5 billion in 2025.
- CEO Elon Musk suggested on Tuesday that merging Tesla and SpaceX would be a "good idea," prompting boards at both companies to form special committees to explore a tie-up.
- Musk sees future growth centered on robotaxis, including the Cybercab, and humanoid robots powered by Grok AI technology. This strategic shift prioritizes automated transportation and AI software over traditional vehicle sales.
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15 Articles
The automaker's third-quarter results exceeded analysts' expectations
Tesla's revenue fell marginally in the third quarter. Yet the company defied analysts' expectations.
The e-car manufacturer has delivered around 25,000 more vehicles than expected. The e-car manufacturer is also positive for its investors in terms of sales.
Electric car manufacturer Tesla exceeded analysts' expectations when the company presented its report for the third quarter of the year on Wednesday evening. Sales amounted to $ 28.05 billion, slightly above expectations of $ 27.9 billion. Adjusted earnings per share ended at $ 0.48, compared to expectations of $ 0.43. At the same time, revenue from the automotive business decreased by 3 percent compared to the same quarter last year. As a resul…
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