US EditionTesla reports revenue growth of 12% after two down quarters in a row
- Tesla reported in its latest quarter that record third-quarter revenue rose to $28.1 billion, beating Wall Street estimates.
- Demand surged as buyers rushed to lock in the tax credit, with consumers who frontloaded purchases last month and the U.S. tax credit plus the Model Y six-seat version boosting sales.
- Despite the revenue gain, profits missed expectations as profits were down 37% and net profit fell from $2.17 billion to $1.37 billion, while Tesla shares dropped about 4.5% in after‑hours trading.
- The proposed package faces criticism from proxy advisers ISS and Glass Lewis, and Tesla CFO Vaibhav Taneja urged support during the shareholders' meeting on November 6.
- Looking beyond cars, Tesla highlighted full self-driving and robotaxis as core focus, developing AI5 chips with Samsung and Taiwan Semiconductor Manufacturing Company, while building first-generation Optimus production lines.
94 Articles
94 Articles
3 Make-or-Break Items From Tesla to Note From Yesterday's Earnings Report
Key PointsThe expiration of a federal EV tax credit will likely hurt Tesla sales.The company's profit margins for automotive sales are falling.Shareholders will vote Nov. 6 on a new pay package for CEO Elon Musk.These 10 stocks could mint the next wave of millionaires › Electric vehicle maker Tesla (NASDAQ: TSLA) issued its third-quarter earnings report after the closing bell yesterday. And investors are still reeling from not only the numbers, …
Tesla Stock Falls Nearly 3% In Thursday Pre-Market — But Key Metrics Point To Explosive Growth Potential - Tesla (NASDAQ:TSLA)
Tesla Inc. (NASDAQ: TSLA) stock declined 2.89% before the bell on Thursday, as the EV maker missed Wall Street's quarterly earnings per share (EPS) expectations.
Tesla profits fall despite higher sales, hitting share price
Tesla reported a fourth straight decline in quarterly profit even as sales rose, triggering a drop in its shares in after-hours trading. Meanwhile, CEO Elon Musk is betting on the robotaxi branch to revitalise the company's future.View on euronews
Coverage Details
Bias Distribution
- 45% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
