Tesla Misses Revenue Target, But Earnings Outperform. CEO Elon Musk Predicts 20%-30% Vehicle Growth in 2025.

Benzinga 2024-10-24

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Tesla reported better-than-expected third-quarter earnings, with adjusted earnings per share that beat analysts' estimates. Revenue, however, came in slightly below expectations. Tesla's profit margins were boosted by over $700 million in automotive regulatory credit revenue as automakers bought credits from Tesla. CEO Elon Musk hinted at 20 to 30% vehicle growth next year due to autonomy and lower-cost vehicles. Tesla's Cybertruck became the third-best-selling fully electric vehicle in the U.S., Tesla announced that the Cybertruck became the third-best-selling fully electric vehicle in the U.S., trailing only the Model 3 and Model Y.

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