Instant News and Commentaries
Tesla 3Q Rev. Ticks Up 12%, Ending 2-Quarter Fall; Earnings Miss; Shrs Slip 2% after Hrs
Tesla (TSLA.US) announced after the market close on Wednesday that its 3Q revenue hiked approximately 12% YoY to US$28.1 billion, topping street consensus of US$26.37 billion, and snapping the trend of two consecutive quarterly declines. However, the company's adjusted EPS was US50 cents, below the expected US54 cents, causing the stock to sag about 2% after hours.

During the quarter, Tesla's car sales notched a record high, with automotive revenue increasing by 6% to US$21.2 billion. However, sales in the European market continued to taper off, partly due to consumer opposition to Elon Musk and competition from other EV manufacturers.

Tesla reiterated its previous view that it is hard to assess how changes in global trade and fiscal policies will influence its business and operations. Tesla noted that Cybercab, Tesla Semi, and Megapack 3 are expected to start mass production as slated in 2026, and the production line for the first generation humanoid robot Optimus is actively being built, preparing for mass production.
~



AASTOCKS Financial News
Website: www.aastocks.com

 

Information Provided by [Disclaimer]