ByTy Roush,
Forbes Staff.
Tesla reported third-quarter earnings Wednesday that fell short of economists’ expectations, the first of the world’s largest firms to post third-quarter earnings, following a historic rise in quarterly deliveries in the lead-up to electric vehicle tax credits expiring.
Tesla reported $28.09 billion in revenues, well above Wall Street’s forecasts of $26.5 billion, according to FactSet, representing a 24.8% increase from the previous quarter, which suffered from the largest sales decline in more than a decade.
That marks a 12% jump in third-quarter revenue over the previous year after two straight quarterly declines, as automotive revenue rose 6% to $21.2 billion from $20 billion in 2024.
