California · SpaceX · Tesla · Elon Musk · Decrypt
Tesla’s profit fell 43% last quarter to $787 million, down from $1.37 billion a year earlier, per its quarterly filing
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★ Tier-1 Source
Revenue stayed flat at $28.05 billion, but operating profit, which is what’s left after the costs of running the business, fell 56% to $718 million.
Key facts
- Tesla’s profit fell 43% last quarter to $787 million, down from $1.37 billion a year earlier, per its quarterly filing
- Revenue stayed flat at $28.05 billion, but operating profit, which is what’s left after the costs of running the business, fell 56% to $718 million
- Tesla has missed Optimus targets before, including a goal of about 10,000 robots in 2025, and rivals are already in the race
- A deal needs support from holders of 50% of all outstanding Tesla shares, a hurdle Musk called “a high hurdle,” and Tesla’s annual shareholder meeting is December 3, though no merger vote
Summary
Tesla's third-quarter net income fell 43% to $787 million on flat revenue of $28.05 billion, as research spending rose 69% and capital expenditures more than doubled to $4.73 billion. Tesla began producing Optimus humanoid robots in Fremont, California; Musk targets 20,000 a week but says that will take at least a year, with outside deliveries around the end of 2027. Tesla says it is trying to get Cybercabs to customers by the end of 2026 while a federal safety audit is open, with its sworn answers to regulators due October 30. Tesla’s profit fell 43% last quarter to $787 million, down from $1.37 billion a year earlier, per its quarterly filing.