Topline
Tesla reported third-quarter earnings Wednesday that fell short of economists’ expectations, the first of the world’s largest firms to post third-quarter earnings, following a historic rise in quarterly deliveries in the lead-up to electric vehicle tax credits expiring.
The automaker earlier reported a record-setting number of vehicle deliveries through the quarter.
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Key Facts
Tesla reported $28.09 billion in revenues, well above Wall Street’s forecasts of $26.5 billion, according to FactSet, representing a 24.8% increase from the previous quarter, which suffered from the largest sales decline in more than a decade.
That marks a 12% jump in third-quarter revenue over the previous year after two straight quarterly declines, as automotive revenue rose 6% to $21.2 billion from $20 billion in 2024.
Tesla’s earnings missed analysts’ estimates, however, after recording earnings per share of $0.50 in the third quarter, below projections of $0.56.
A bump in revenues comes after Tesla reported quarterly deliveries of just over 497,000, above the company’s compiled consensus of around 443,079 and analysts’ estimates of 456,000, the largest by Tesla on record.
Tesla’s stock declined more than 1.5% in after-hours trading Wednesday.
What To Watch For
Tesla will host its earnings call at 5:30 p.m. EDT on its investor relations website. Shareholders have voted on questions to ask executives, with the highest-rated questions requesting new details on new car models and updates on Tesla’s robotaxi plans, among others, as of Wednesday afternoon. Cantor Fitzgerald analysts wrote Tuesday that they would focus on updates from Tesla regarding its robotaxi service in Texas and California, as well as production and sales of the new, lower-priced Model 3 and Model Y cars.