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Tesla reports better-than-expected third-quarter earnings and revenue
Tesla beats earnings and sales estimates despite a decline in automotive revenue.
Key points
- Tesla reported adjusted earnings per share of 48 cents and revenue of $28.05 billion, beating analyst estimates.
- Automotive revenue fell 3% to $20.56 billion and energy revenue dropped 16% to $2.88 billion.
- Elon Musk stated that special committees from the boards of Tesla and SpaceX have been formed to discuss a potential merger.
Why it matters. Tesla's stock slid more than 3% in extended trading following results that showed declines in core automotive and energy revenue.
Tesla reported third-quarter results that beat analyst estimates for earnings and revenue, even as automotive revenue dropped. The stock was little changed in extended trading following the report. CEO Elon Musk also addressed a potential merger between Tesla and SpaceX, noting that special committees have been formed to discuss a tie-up, though he emphasized that shareholders would need to approve it.
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Tesla reports better-than-expected third-quarter earnings and revenue
Tesla surpassed Wall Street expectations for the third quarter, reporting adjusted earnings of 48 cents per share against the 43 cents estimated by analysts polled by LSEG. Total quarterly revenue reached $28.05 billion, edging past the consensus forecast of $27.9 billion despite a notable decline in core automotive revenue. The financial performance highlights resilience in broader business segments even as the automaker navigates shifting market conditions and pricing pressures. The earnings report follows strategic commentary delivered by CEO Elon Musk regarding the company's long-term autonomous driving and artificial intelligence roadmap. Tesla shares remained relatively unchanged in extended trading following the release of the quarterly figures.
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Tesla beats on earnings and sales even as auto revenue declines
Tesla reported better-than-expected third-quarter results. watch now Tesla reported better-than-expected third-quarter results after the bell on Wednesday, even as automotive revenue dropped. The stock was little changed in extended trading. Here's how the company did, compared with estimates from analysts polled by LSEG: Earnings per share: 48 cents adjusted vs. 43 cents estimated Revenue: $28.05 billion vs. $27.9 billion estimated Tesla's earnings report lands a day after CEO Elon Musk told investors on SpaceX's quarterly call that it would be a "good idea" for his two companies to merge, and said the boards at both have formed special committees to discuss a possible tie-up. "I feel like I'm tap dancing through a minefield," Musk said on the call, responding to a question about a potential merger. "Do I think it would be a good idea? Yes," Musk said. "But at the end of the day, the shareholders have to be supportive of this." On the Tesla side, that means needing a 50% vote of all shares, which is "quite a high hurdle," he said. Revenue was down slightly flat from a year earlier, when the company generated sales of $28.24 billion, Tesla said in its earnings deck. In Tesla's core automotive business, revenue declined 3% from a year earlier to $20.56 billion in the quarter. Energy revenue fell 16% to $2.88 billion. Balancing out the declines were gains in Tesla's services and .
Tesla beats on earnings and sales even as auto revenue declines
On the earnings call, CEO Elon Musk said the boards of both SpaceX and Tesla have formed special committees to discuss a potential merger. Tesla shares are down 14% so far this year, underperforming all of the company's tech megacap peers. watch now Tesla reported better-than-expected third-quarter results after the bell on Wednesday, even as automotive revenue dropped. The stock slid more than 3% in extended trading. Here's how the company did, compared with estimates from analysts polled by LSEG: Earnings per share: 48 cents adjusted vs. 43 cents estimated Revenue: $28.05 billion vs. $27.9 billion estimated Tesla's earnings report lands a day after CEO Elon Musk told investors on SpaceX's quarterly call that it would be a "good idea" for his two companies to merge, and said the boards at both have formed special committees to discuss a possible tie-up. "I feel like I'm tap dancing through a minefield," Musk said on the call, responding to a question about a potential merger. Musk addressed the matter in his opening comments on the Tesla call, but didn't provide any additional information. "I think I said everything that should be said yesterday," he said. Tesla's revenue was down slightly flat from a year earlier, when the company generated sales of $28.24 billion, according to the earnings deck. In Tesla's core automotive business, revenue declined 3% from a year earlier to .