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Tesla (TSLA) Q3 2023 earnings results miss EPS & revenue expectations

Tesla came up short on its major metrics against Wall Street estimates for the latest fiscal quarter.
TJ Denzer
TJ Denzer
Image via Brandon Bell/Getty Images
2

It’s another season of company earnings results, and Tesla is one of the latest to report with the close of its fiscal Q3 2023. Unfortunately, the company ended up missing some key metrics versus analyst expectations this previous quarter. Tesla posted its Q3 2023 earnings results today and it revealed that the company’s revenue and earnings-per-share (EPS) were lower than estimates for the quarter.

Tesla put out its Q3 2023 earnings results on its investor relations website this week. According to the report, Tesla put up $23.4 billion in revenue for the quarter. That was short of the $24.1 billion Wall Street consensus estimate. Meanwhile, Tesla’s EPS ended up at $0.66 per share. That ended up missing the mark on both the Whisper Number estimate, which was $0.76 per share, and the Wall Street estimate, which was $0.73 per share. All in all, it was a uniquely tough quarter for Tesla.

Tesla (TSLA) stock as of October 18, 2023 at 1:28 p.m. PT / 4:28 p.m. ET
Tesla (TSLA) stock took a dip in after-hours trading before recovering a bit following release of the company's Q3 2023 earnings results.
Source: Google

There was reason to believe Tesla would have rough Q3 2023 earnings results throughout the previous quarter. Some may recall that Elon Musk said back on the Q2 2023 earnings conference call that production would see a decrease across Q3 due to the company doing upgrades to several of its factories, which stopped their operation during the upgrade process. The company also reported lower-than-expected vehicle deliveries for Q3 2023 ahead of the earnings results report.

It was an oddly difficult quarter for Tesla, but the company still remains at the forefront of the electric vehicle industry. Stay tuned as we continue to follow Tesla, Elon Musk, and further companies reporting on their latest quarterly earnings results.

Senior News Editor
Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.

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