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Tesla's third-quarter profit falls 43% to $787 million as deliveries slip
Tesla's net income fell 43% from a year earlier to $787 million in the third quarter, while revenue was flat at $28 billion and vehicle deliveries declined 2%; revenue and profit both beat analyst expectations.
Tesla's third-quarter net income fell 43% from a year earlier to $787 million, down from $1.4 billion, the company reported. Earnings per share dropped to 22 cents from 39 cents.
Revenue was unchanged at $28 billion, while automotive revenue fell 3% to $20.6 billion. Both revenue and profit came in above analyst expectations.
Tesla produced 464,391 vehicles in the quarter, up 4% year on year, and delivered 486,532, down 2%. The company said the adoption rate of its supervised Full Self-Driving system on new vehicle deliveries in North America rose above 75%.
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