"Tesla delivered a record number of vehicles in the third quarter of 2025, thanks in large part to a rush of customers in the United States who took advantage of the expiring federal EV tax credit. But that record quarter did not lead to greater earnings. In fact, Tesla's third-quarter profit was still 37% lower than it was in the same quarter last year."
"Tesla shipped 497,099 cars in the third quarter, which generated $21.2 billion in revenue - the company's best revenue figure in more than a year. But Tesla only pulled in a profit of $1.4 billion, up just $200 million from the second quarter of this year, according to a shareholder letter released Wednesday. The company explained in the letter that a big increase in operating expenses - 50% higher compared to the third quarter last year - was one of the culprits."
"That OpEx bump was thanks to spending on AI and other R&D projects, as well as "restructuring" charges of nearly $240 million. Tesla didn't explain what those restructuring charges were for, but it's possibly related to the recent decision to shut down the company's six-year Dojo supercomputer project. This will put even more pressure on the company's final quarter of the year."
Tesla shipped a record 497,099 vehicles in Q3 2025, generating $21.2 billion in revenue, its best revenue figure in over a year. Profit for the quarter was $1.4 billion, 37% lower than the same quarter last year and only $200 million higher than Q2. Operating expenses rose about 50% year-over-year driven by spending on AI and other R&D projects and nearly $240 million in "restructuring" charges, possibly linked to shutting down the Dojo supercomputer project. The results increase pressure on Q4 to match past annual shipment totals. New, slightly cheaper Model 3 and Model Y variants may help, but Tesla remains far from its prior 50% annual growth target. A proposed $1 trillion share package for CEO Elon Musk faces advisor opposition but is likely to pass at an upcoming vote.
Read at TechCrunch
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