Revenue falls short of predictions as investors anticipate Cybertruck, Elon Musk’s super-vehicle in prototype
Tesla shares slid nearly 5% in after-hours trading Wednesday after several misses on Wall Street expectations in its third quarter earnings of 2023.
Revenue for the third quarter was $23.4bn compared to analyst predictions of $24.09bn, with total gross profit declining 22% year-over-year. Earnings per share were $0.66 compared to a predicted $0.74, translating to a net income of $1.9bn – compared to $3.3bn one year ago.
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