Investing
Oct 24, 2024 5:52 AM
Investing.com -- Tesla reported Wednesday third-quarter results that beat Wall Street estimates, driven by improved margins.
Tesla Inc (NASDAQ:TSLA) was up more than 7% in aftermarket trading.
For Q3, the company reported adjusted earnings per share of $0.52 on revenue of $25.18 billion, compared with Wall Street estimates of $0.60 a share and $25.4B, respectively.
The bottom line was boosted by a rise in automotive sales to $20.02B from $19.63B a year earlier and stronger margins.
Gross margins excluding credits, a closely watched metric, rose to 17.05% in Q3 from 14.7% in the prior quarter.