Tesla Q3 Earnings Report: Mixed Results Spark Volatility
Tesla's third-quarter earnings revealed a 31% year-over-year decline in adjusted EPS to $0.50, missing analyst expectations of $0.55. The EV maker's stock exhibited significant volatility in after-hours trading following the report.
Revenue presented a brighter picture, climbing 12% to $28.1 billion and surpassing estimates of $26.33 billion. This growth stemmed from increased global vehicle deliveries and expansion in energy storage, though tempered by reduced regulatory credits and one-time FSD revenue recognition.
Wall Street maintains a cautious stance, with the current average price target of $365.82 suggesting 16.43% downside potential. The Hold-rated stock has nonetheless delivered impressive 76.5% gains over the past six months.