"The report and subsequent investors' call was pretty standard. Tesla announced $28.1 billion in revenue, a 12% increase year-over-year (YOY) from $25.2 billion. A majority of Tesla's revenue came, unsurprisingly, from automotive sales, which grew 6% YOY to $21.2 billion. Quarter three was the last push for U.S. customers to buy Tesla vehicles before the federal EV tax credit expired."
"However, it wasn't enough. Tesla failed to meet Wall Street's predicted $26.4 billion in total revenue, according to consensus estimates cited by CNBC. Its reported earnings per share also failed to make the mark, reaching 50 cents adjusted instead of the estimated 54 cents. Tesla's net income fell 37% YOY to $1.37 billion and its operating income dropped 40% to $1.6 billion."
"On November 6, investors will vote on a $1 trillion compensation package for Musk-which would be contingent on the company hitting certain milestones. Notably, the extra income would be in the form of Tesla shares, providing Musk with greater control over the company. "[There] needs to be enough voting control to give a strong influence, but not so much that I can't be fired if I go insane," Musk said."
Tesla reported $28.1 billion in Q3 revenue, a 12% year-over-year increase, with automotive sales of $21.2 billion, up 6% YOY. The company missed analyst revenue estimates of $26.4 billion and reported adjusted EPS of $0.50 versus $0.54 expected. Net income fell 37% to $1.37 billion and operating income declined 40% to $1.6 billion. The company cited higher operating expenses tied to AI and other R&D projects, increased deliveries, and higher vehicle costs from factors like tariffs. Q3 sales were pressured by expiration of the U.S. federal EV tax credit. CEO Elon Musk emphasized AI, robotaxis, and Optimus robots and spoke ahead of a November 6 vote on a $1 trillion stock-based compensation package tied to milestones.
Read at Fast Company
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