"Tesla reported third-quarter earnings of 50 cents a share on Wednesday after market close, less than the 54 cents that market analysts predicted. The automaker exceeded Wall Street's expectations of $26.457bn in revenue. Its operating income was $1.62bn against expectations of $1.65bn. It also reported a net income of $1.4bn, down from $2.2bn, a drop of 37% in its profits."
"Tesla's deliveries in the third quarter surged from earlier in the year, an increase that analysts attributed to consumers attempting to lock-in electric vehicle tax credits that expired at the end of last month. The loss of EV credits as a result of Donald Trump's One Big Beautiful Bill Act was a factor in the public breakup between Musk and the president and has continued to influence the company's sales forecasts."
"Tesla vehicle deliveries spike after several quarters of decline The company made numerous mentions of its AI software and commitment to expand its autonomous driving technology in a press release on the results, while also citing shifting trade, tariff and fiscal policy as challenges it faces. The earnings report comes at a sensitive time for Tesla and Musk, as the CEO is seeking investor approval for an unprecedented $1tn pay package in a vote next month."
Tesla reported third-quarter earnings of $0.50 per share, below analysts' $0.54 estimate, and net income of $1.4bn, a 37% decline from $2.2bn. Revenue was $26.457bn, above expectations, while operating income of $1.62bn slightly missed forecasts. Deliveries surged in the quarter as consumers rushed to secure expiring US electric-vehicle tax credits. The loss of EV credits tied to recent legislation affected sales forecasts and public relations between the CEO and the president. The company emphasized AI and autonomous-driving development and cited trade, tariff and fiscal-policy shifts as challenges. The CEO seeks investor approval for a $1tn pay package.
Read at www.theguardian.com
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