Tesla Inc (NASDAQ:TSLA) shares edged slightly lower afterhours as the EV maker reported mixed financial results for the third quarter.
For the September quarter, total revenue was up 12% year-over-year at $28 billion, beating the Wall Street consensus of $26.5 billion.
Automotive revenues were up 6% at $21.2 billion, energy generation and storage revenue was up 44% at $3.4 billion, and services and other revenue increased 25% to $3.4 billion.
Earnings per share of $0.50, however, were down 31% from the year-ago period and missed the consensus $0.53.
The EV maker’s margins remain pressured, with its operating margin coming in at 5.8% for Q3. This marked a 501 basis point decrease from 10.8% for the year-ago period but an improvement from 4.1% in Q2.
Its EBITDA margin contracted by 348 basis points to 15%, from 18.5% in Q3 2024.
Operational milestones highlighted by the company included the launch of a ride-hailing service in the Bay Area using Robotaxi technology, record energy storage deployments and record vehicle deployments.
As reported by Tesla in early October, the company produced 447,450 vehicles and delivered 497,099 during Q3.
“While we face near-term uncertainty from shifting trade, tariff and fiscal policy, we are focused on long-term growth and value creation,” the company said in its earnings presentation.
“We are prudently making the necessary investments in our business, including future business lines, that we believe will drive incredible value for Tesla and the world across transport, energy and robotics.”