Overview
- Revenue rose 12% year over year but net income fell 37% as record deliveries of 497,099 outpaced production of 447,450.
- Energy generation and storage produced roughly $3.4 billion in quarterly revenue with a 31.4% gross margin and deployments reaching 12.5 GWh.
- Management highlighted autonomy, robotics and the Optimus humanoid robot as long-term growth priorities during the earnings call.
- Nine Wall Street firms raised price targets after the call, citing potential in autonomy, robotics and AI even as near-term margins face pressure.
- A vote closing November 5 will decide Elon Musk’s proposed compensation, with Tesla’s board urging approval, proxy advisers ISS and Glass Lewis recommending against, and major investors split.