Overview
- Revenue rose 12% year over year to $28.095 billion, with automotive revenue up 6% to $21.2 billion and energy generation and storage up 44% to $3.42 billion.
- Operating income dropped about 40% to $1.6 billion, adjusted EBITDA fell 9% to $4.227 billion, and the operating margin came in at 5.8% as operating expenses jumped 50% to $3.43 billion.
- Tesla reported to the NHTSA a recall of thousands of recently manufactured vehicles over a battery‑connector defect that can cause sudden power loss.
- The company published Q3 Autopilot safety data showing one crash per 6.36 million miles when drivers used Autopilot.
- Shares have roughly doubled over the past 12 months as investors lean into Tesla’s AI and autonomy pivot, and the company says prudent investment and scale should help navigate shifting market conditions.