Tesla’s stock jumped 11%, fueled by rising margins and optimistic growth outlook.

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TLDR:

  • Tesla’s Q3 revenue hit $25.18B, below expectations, but beat EPS at $0.72 vs. $0.60.
  • Gross margin rose to 19.8%, above the expected 16.8%.
  • Tesla’s stock jumped 11% after hours due to the earnings beat and positive outlook.
  • Tesla confirmed its cheaper EV production on track for 2025 and expects 20-30% growth in volume next year.
  • Vehicle deliveries increased 6.4% in Q3, though slightly below Wall Street estimates.
  • Tesla’s Energy Generation and Storage business hit record margins, expected to double in 2024.
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Source: Yahoo

Tesla’s third-quarter results delivered a mixed bag of numbers, but the market roared with optimism. Despite missing revenue expectations, the 11% after-hours surge in Tesla stock reflects the bullish outlook on rising gross margins and the highly anticipated launch of its affordable EV in 2025. With promises of 20-30% growth in vehicle volumes next year, the company is positioning itself for another leap, even as analysts voice concerns over the lack of clarity from its recent events. As Tesla’s energy business skyrockets with record margins, it’s clear the company isn’t just riding on electric vehicles—it’s building a future.

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