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Tesla reports revenue growth of 12% after two down quarters in a row
- On Wednesday, Tesla reported third-quarter earnings after market close, with analysts expecting the company to return to growth after two straight year-over-year revenue declines.
- Deliveries and product repricing, including new standard Model Y and Model 3 variants, helped boost sales, with 497,099 vehicles delivered worth roughly $2.4 billion earlier this month.
- Wall Street's estimates set the bar at $27.3 billion in sales and 56 cents EPS while Tesla reported $16.7 billion in automotive revenue including $439 million in regulatory credits.
- Shares had gained 95% over the past six months coming into Wednesday trading, and analysts said they would watch Elon Musk, Tesla chief executive, closely for updates on robotaxi service and premium driver-assistance systems.
- Analysts note the Cybercab launch next year and Optimus updates as key milestones, while Tesla faces near-term risks from a sales slump in Europe and competition from Volkswagen and BYD.
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26 Articles
26 Articles
Ars TechnicaReposted by 
World NEWS Live
World NEWS LiveTesla profits fall 37% in Q3 despite healthy sales
A loss of regulatory credits and increased expenses didn’t help.
·United States
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Tesla chains its four consecutive quarter of its net profit fall. Between July and September, the manufacturer of electric cars based in Austin (Texas, United States) saw its net profits reduced by 37% to 1.373 million dollars, slightly more than 1,182 million euros at the current change, by the increase in operating expenses and by the decrease in revenues from regulatory credits. The significant thing about this cut in profits is that it occur…
·Madrid, Spain
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Coverage Details
Total News Sources26
Leaning Left2Leaning Right1Center10Last UpdatedBias Distribution77% Center
Bias Distribution
- 77% of the sources are Center
77% Center
15%
C 77%
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