Tesla revenue beats estimates as deliveries rebound — but AI spending weighs on profit

Elon Musk's Tesla beat Wall Street estimates for third-quarter revenue on Wednesday as a rebound in vehicle deliveries and growth in its energy storage unit lifted sales, even as heavy spending on AI and robotaxis weighed on profit. Its shares rose more than 1% in extended trading. The Austin, Texas-based automaker reported revenue of $28.05 billion for the three months ended Sept. 30, compared with analysts' average estimate of $27.88 billion, according to data compiled by LSEG. Revenue was $28.10 billion ...

Tesla revenue beats estimates as deliveries rebound — but AI spending weighs on profit - Reportify