Total revenue rose 9 to 23.35 billion dollars.
Tesla’s net income slumped in the third quarter versus a year earlier, as price reductions helped drive strong sales growth but also ate into the carmaker’s profit margins
On that basis, Tesla’s earnings fell short of analysts’ consensus estimate of 73 cents per share, according to FactSet.Total revenue rose 9% to 23.35 billion dollars. Analysts had forecast 24.19 billion dollars. Even so, Tesla’s deliveries came in below the 461,000 vehicles analysts had predicted the company would sell during the quarter, according to FactSet Research.
Tesla has been slashing prices most of this year to keep attracting buyers who now have a wider selection of electric vehicles. The discounts range from 4,400 dollars on Tesla’s top-selling vehicles to as much as 20,000 dollars on its most expensive models.
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