Tesla stock ticks up after quarterly report

Published:

Tesla stock ticks up after quarterly report
Photo: Markus Schreiber/AP/TT

Things are going better than expected for electric-vehicle maker Tesla, and its stock is rising after its quarterly report.

Earnings per share were 50 cents for the quarter, compared with the 45 cents analysts expected on average, according to research firm LSEG, CNBC reports.

Revenue was $24.90 billion, compared to the expected $24.79 billion.

Tesla also announced a $2 billion investment in CEO Elon Musk's AI company XAI, which he launched as a competitor to OpenAI.

It has otherwise been a turbulent year for Tesla, with increasing competition from Chinese brands.

Turnover from car sales fell 11 percent compared with the same period a year ago.

For the full year last year, sales fell to $94.8 billion from $97.7 billion in 2024.

Tesla's stock rose 3.8 percent in after-hours trading on the New York Stock Exchange.

Loading related articles...

Tags

Author

TT News AgencyT
By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

More news

Loading related posts...