Tesla delivers Q3 earnings beat as margins improve

Investing.comOct 24, 2024 5:52 AM

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Investing.com -- Tesla reported Wednesday third-quarter results that beat Wall Street estimates, driven by improved margins.

Tesla Inc (NASDAQ:TSLA) was up more than 7% in aftermarket trading.

For Q3, the company reported adjusted earnings per share of $0.52 on revenue of $25.18 billion, compared with Wall Street estimates of $0.60 a share and $25.4B, respectively.

The bottom line was boosted by a rise in automotive sales to $20.02B from $19.63B a year earlier and stronger margins.

Gross margins excluding credits, a closely watched metric, rose to 17.05% in Q3 from 14.7% in the prior quarter.

Reviewed byTony

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