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Tesla reports Q3 earnings of 48 cents per share beating estimates
Tesla reported third-quarter earnings of 48 cents per share, beating analyst estimates.
Key points
- Tesla reported adjusted earnings per share of 48 cents against an estimated 43 cents.
- Automotive revenue fell 3% to $20.56 billion due to lower average sales prices and battery supply challenges.
- Elon Musk stated that boards at Tesla and SpaceX have formed special committees to discuss a possible merger.
Why it matters. Tesla's financial results show a beat on earnings and revenue despite declines in its core automotive and energy business segments.
Tesla reported third-quarter adjusted earnings of 48 cents per share, exceeding the 43 cents estimated by analysts polled by LSEG. While total revenue of $28.05 billion beat estimates, automotive revenue declined 3% to $20.56 billion. Tesla attributed the automotive results to lower average sales prices and battery supply issues.
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Tesla reports Q3 earnings of 48 cents per share beating estimates
Tesla reported third-quarter results on Wednesday that topped LSEG analyst estimates of 43 cents per share and $27.9 billion in revenue. The company achieved an adjusted earnings per share of 48 cents on total revenue of $28.05 billion. While the overall figures were positive, the company noted a drop in revenue specifically from its automotive segment. The stock remained relatively stable in extended trading following the announcement. These results come amid ongoing scrutiny of CEO Elon Musk's leadership and market volatility.