Tesla said it posted total revenue of $25.18 billion for Q3 2024, up $1.83 billion from a year earlier, and net income attributable to common stockholders of $2.17 billion, up $314 million from a year earlier. Net income for the 9-month period was $4.77 billion, down $2.30 billion from the same period a year earlier.

1. 01

   Tesla said it posted total revenue of $25.18 billion for Q3 2024, up $1.83 billion from a year earlier, and net income attributable to common stockholders of $2.17 billion, up $314 million from a year earlier. Net income for the 9-month period was $4.77 billion, down $2.30 billion from the same period a year earlier.

2. 02

   Tesla said its total automotive gross margin rose to 20.1% in Q3 2024 from 18.7% a year earlier. The company cited lower average combined cost per unit of its vehicles, higher FSD revenue and higher regulatory credits revenue as factors, and said lower average selling price on its vehicles partially offset these gains.

3. 03

   Tesla said energy generation and storage segment revenue rose $817 million (52%) in Q3 2024 and $2.43 billion (53%) over the 9-month period. The company attributed the increases to higher Megapack and Powerwall deployments.

4. 04

   Tesla said operating cash flow for the 9-month period was $10.11 billion (versus $8.89 billion a year earlier), capital expenditures were $8.56 billion (versus $6.59 billion a year earlier), and cash, cash equivalents and investments were $33.65 billion as of the end of Q3.

Key figures

Quarter ended September 30, 2024

Revenue

$25.2B

Operating income

$2.7B

Net income

$2.2B

EPS

$0.62

Gross profit

$5.0B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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