Tesla’s Q3 Earnings Disappoint Amid Focus on AI and Robotaxi Initiatives
Tesla's third-quarter earnings fell short of expectations, with a 31% year-over-year decline to $0.50 per share, missing the $0.55 consensus estimate. Despite record sales, the earnings drop triggered a sell-off in after-hours trading. Jefferies analyst Phillipe Houchois maintained a 'Hold' rating, citing a lack of new insights in the earnings call, which he dismissed as 'more repetition than news.'
CEO Elon Musk doubled down on Tesla's long-term bets, prioritizing AI and self-driving technology over near-term profitability. The market's tepid response underscores growing skepticism about the company's ability to balance futuristic ambitions with quarterly execution.