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Tesla's Q3 profit fell 42.7% year-over-year to $787 million, but exceeded analyst expectations; revenue was largely flat at $28 billion.
Tesla reported its third-quarter earnings on Wednesday, with profit falling 42.7% year-over-year to $787 million, still exceeding analyst expectations. Revenue remained largely flat at $28 billion. The company made significant investments in R&D and capital expenditures, with the latter doubling to $4.7 billion. Additionally, Tesla disclosed that its robotaxi business saw an eightfold quarter-over-quarter increase in cumulative autonomous driving mileage.
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