Tesla beats Q3 earnings estimates as AI spending weighs on profits

Tesla posted non-GAAP earnings of $0.48 a share on flat revenue of $28.05 billion, while heavier AI and robotics spending cut operating income to $718 million. Tesla Inc. beat third-quarter profit estimates on Wednesday as margins recovered from a weak second quarter, though rising spending on artificial intelligence and robotics more than halved its operating income. The company reported non-GAAP earnings of $0.48 a share, above the roughly $0.45 analysts expected but down from $0.50 a year earlier. Revenue was $28.05 billion, flat year over year and in line with consensus.

Source: Crypto Briefing