Tesla: Q3 EPS up 9%

(CercleFinance.com) - On Wednesday evening Tesla reported Q3 2024 adjusted net income up 8%, at just over $2.
5bn, or $0.72 per share (+9%), with its adjusted EBITDA margin improving 2.4 points to 18.5%. NB: cp -2% yesterday, pmt +11% today.

Revenues rose by 8% to $25.2bn, with increases of just 2% in automotive activities, but 52% in energy storage and generation, as well as 29% in services and others.

We grew our vehicle deliveries both sequentially and year-on-year, to record volumes for a third quarter, Elon Musk's group said, which also points to an all-time low cost per vehicle sold.

We remain focused on expanding our vehicle and energy product lines, reducing costs and making critical investments in AI projects and production capacity, it added.


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