Tesla Q3 Earnings: Record Revenue and Earnings, But Slowing Growth

Tesla reported record revenue and earnings in Q3 2024, but its growth is slowing.

Tesla reported record revenue and earnings in Q3 2024, driven by strong demand for its electric vehicles. However, the company's growth is slowing, as it faces increasing competition from legacy automakers and startups alike.

Revenue rose 42% to $23 billion, while earnings per share jumped 65% to $1.86.

Tesla's revenue rose 42% to $23 billion in Q3 2024, driven by strong demand for its electric vehicles. The company's earnings per share also jumped 65% to $1.86.

Tesla delivered 343,000 vehicles in Q3 2024, up 40% year-over-year.

Tesla delivered 343,000 vehicles in Q3 2024, up 40% year-over-year. The company's total production rose 50% to 365,000 vehicles.

Tesla's growth is slowing, as it faces increasing competition from legacy automakers and startups alike.

Tesla's growth is slowing, as it faces increasing competition from legacy automakers and startups alike. In Q3 2024, Tesla's market share in the US electric vehicle market fell to 65%, down from 70% in Q3 2023.

Tesla is investing heavily in new products and technologies, including its Cybertruck, Semi, and Roadster.

Tesla is investing heavily in new products and technologies, including its Cybertruck, Semi, and Roadster. The company is also expanding its production capacity, with new factories under construction in Austin, Texas, and Berlin, Germany.

Tesla's stock price has fallen sharply in recent months, due to concerns about the company's slowing growth and increasing competition.

Tesla's stock price has fallen sharply in recent months, due to concerns about the company's slowing growth and increasing competition. The stock is down more than 50% from its peak in November 2021.

Despite the challenges, Tesla remains the world's leading electric vehicle manufacturer.

Despite the challenges, Tesla remains the world's leading electric vehicle manufacturer. The company has a strong brand, a loyal customer base, and a track record of innovation.

Tesla is well-positioned to continue to grow in the future, as the demand for electric vehicles continues to rise.

Tesla is well-positioned to continue to grow in the future, as the demand for electric vehicles continues to rise. The company is investing heavily in new products and technologies, and it has a strong brand and a loyal customer base.