Tesla Misses Earnings Estimates Despite Record EV Sales. The Stock Is Down.

Core Insights - Tesla reported disappointing third-quarter earnings despite achieving record electric vehicle sales, leading to a decline in stock value [1][2] Financial Performance - The company reported an operating profit of $1.6 billion and adjusted earnings per share (EPS) of 50 cents from sales of $28.1 billion, falling short of Wall Street expectations of an operating profit of $1.8 billion and EPS of 57 cents from sales of $27.3 billion [2] - In comparison to the previous year, Tesla's operating profit decreased from $2.7 billion, EPS dropped from 72 cents, and sales increased from $25.2 billion [2]