Tesla delivers Q3 earnings beat as margins improve

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.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
* References, analysis, and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgement of the analyst, without considering the investment objectives and financial situation of the investors.
Risk Warning: Our Website and Mobile App provides only general information on certain investment products. Finsights does not provide, and the provision of such information must not be construed as Finsights providing, financial advice or recommendation for any investment product.
Investment products are subject to significant investment risks, including the possible loss of the principal amount invested and may not be suitable for everyone. Past performance of investment products is not indicative of their future performance.
Finsights may allow third party advertisers or affiliates to place or deliver advertisements on our Website or Mobile App or any part thereof and may be compensated by them based on your interaction with the advertisements.
© Copyright: FINSIGHTS MEDIA PTE. LTD. All Rights Reserved.