Core Insights - Tesla reported Q3 2025 revenue of $28.1 billion, a 12% year-over-year increase, but net profit fell 29% to $1.77 billion (non-GAAP) [1][4] - Following the earnings release, Tesla's stock price dropped nearly 5%, closing at $438.97 per share, down 0.82% [1] Financial Performance - Q3 2025 revenue breakdown: - Automotive revenue increased 6% to $21.2 billion - Energy generation and storage revenue surged 44% to $3.42 billion - Services and other revenue rose 25% to $3.475 billion [4][5] - Despite revenue growth, net income attributable to common stockholders (non-GAAP) was $1.77 billion, reflecting a significant decline [5] Production and Delivery Metrics - In Q3 2025, Tesla produced 447,400 vehicles, a 4.8% year-over-year decrease, while global deliveries reached 497,000, a 7.4% increase [6][7] - Model 3 and Model Y deliveries totaled 481,100, up 9% year-over-year, while other models saw a 30% decline in deliveries [6] Market Developments - In China, Tesla's sales in Q3 2025 reached 169,200 units, a 31% quarter-over-quarter increase, despite a 5.4% decline in the first half of the year [8] - Tesla has accelerated product launches in various markets, including new versions of Model Y and Model 3, to enhance competitiveness [8][9] Strategic Focus - CEO Elon Musk announced plans to launch the Optimus V3 humanoid robot in Q1 2026 and expand Robotaxi services to 8-10 regions by year-end [3][10] - The company is shifting its focus from automotive to AI and robotics, with Musk indicating that 80% of Tesla's future value may come from robotics [10][14] Regulatory and Technological Advancements - Tesla is working with regulatory bodies in China and Europe to gain approval for its Full-Self Driving (FSD) technology, which is currently operational in several countries [15]

美东时间10月22日收盘后，特斯拉（NASDAQ:TSLA）公布了2025年第三季度财报。 财报显示，特斯拉今年第三季度营收达到281亿美元，同比增长12%；净利润为17.7亿美元（非美国通用会计准则下），同比下滑29%；经调整后的每股收益 为0.50美元。财报发布后，特斯拉股价一度下跌近5%。截至10月22日美股收盘，特斯拉股价报438.97美元/股，跌幅为0.82%。 在公布三季度财报的同时，特斯拉CEO马斯克在财报电话会议上还透露了业务层面的最新进展。例如，公司计划在明年第一季度推出人形机器人Optimus V3，并预计年底前将在8~10个区域运营Robotaxi（无人驾驶出租车）服务，并在奥斯汀实现全无人化自动驾驶运营。 营收创新高但利润下滑近三成 财报数据显示，今年三季度，特斯拉营收为281亿美元，同比增长12%，但净利润下滑29%至17.7亿美元（非美国通用会计准则下）。对于三季度营收的增长 原因，特斯拉方面称，主要受到汽车交付量、能源生产和存储业务及服务业务增长驱动。 按照业务划分来看，今年三季度，特斯拉核心汽车业务营收增长6%，至212亿美元，去年同期为200亿美元；能源发电与储能业务营收大增 ...

美东时间10月22日收盘后，特斯拉（NASDAQ:TSLA）公布了2025年第三季度财报。 营收创新高但利润下滑近三成 财报数据显示，今年三季度，特斯拉营收为281亿美元，同比增长12%，但净利润下滑29%至17.7亿美元（非美国通用会计准则下）。对于三季度营收的增长 原因，特斯拉方面称，主要受到汽车交付量、能源生产和存储业务及服务业务增长驱动。 按照业务划分来看，今年三季度，特斯拉核心汽车业务营收增长6%，至212亿美元，去年同期为200亿美元；能源发电与储能业务营收大增44%至34.2亿美 元，三季度装机量达12.5吉瓦时；包括车辆维修在内的服务和其他业务，营收为34.75亿美元，同比增长25%。 | FINANCIAL SUMMARY | | --- | | ($ in millions, except percentages and per share data) | Q3-2024 | Q4-2024 | Q1-2025 | Q2-2025 | | --- | --- | --- | --- | --- | | Total automotive revenues | 20,016 | 19,798 ...

第三季度，特斯拉储能产品的装机量达到12.5吉瓦时，创下历史新高。其毛利环比、同比均实现增长，以11亿美元创下新纪录。 中国商报（记者 雷珂馨）北京时间10月23日，特斯拉发布2025年第三季度财报，其营收虽创历史新高，但盈利表现不及预期。报告期内，特斯拉总营收约 为281亿美元，同比增长12%，这一增长主要得益于汽车交付量以及能源业务创纪录的表现。然而，其净利润（非美国通用会计准则下）为17.7亿美元，同 比下滑29%，未能达到市场预期。 值得关注的是，特斯拉在财报中将"AI技术、智能辅助驾驶功能以及人形机器人"列为推动公司未来发展的核心驱动力。其中，迭代速度不断加快的完全自 动驾驶（FSD）系统，以及逐步迈向商业化落地的Optimus人形机器人，被业界视为特斯拉未来业绩能够实现超预期增长的关键。 汽车和储能业务稳步增长 从业务构成拆分来看，特斯拉的汽车业务依旧是其营收的核心支柱。在第三季度，特斯拉汽车业务实现营收212亿美元，同比增长6%，这一增长主要得益 于其创下历史新高的汽车销量。 特斯拉汽车业务的毛利率（未将监管积分收入纳入计算）为15.4%，低于分析师此前预期的16.3%。特斯拉将此次利润下滑归因 ...

| ($ in millions, except percentages and per share data) | Q3-2024 | Q4-2024 | Q1-2025 | Q2-2025 | Q3-2025 | YOY | | --- | --- | --- | --- | --- | --- | --- | | Total automotive revenues | 20,016 | 19,798 | 13,967 | 16,661 | 21,205 | 6% | | Energy generation and storage revenue | 2,376 | 3,061 | 2,730 | 2,789 | 3,415 | 44% | | Services and other revenue | 2,790 | 2,848 | 2,638 | 3,046 | 3,475 | 25% | | Total revenues | 25,182 | 25,707 | 19,335 | 22.496 | 28,095 | 12% | | Total gross profit | 4,997 | 4,179 | ...

Core Insights - Tesla reported record high revenue for Q3 2025, reaching $28.1 billion, a 12% year-over-year increase, surpassing analyst expectations of $26.37 billion. However, net profit fell to $1.77 billion, a 29% decline compared to the previous year, leading to a nearly 5% drop in stock price post-announcement [1][2]. Financial Performance - Total automotive revenues for Q3 2025 were $20.016 billion, while energy generation and storage revenue was $2.376 billion, and services and other revenue amounted to $2.790 billion, resulting in total revenues of $25.182 billion [2]. - The total gross profit was $4.997 billion, with a GAAP gross margin of 19.8%. Operating income was $2.717 billion, yielding an operating margin of 10.8% [2]. - Adjusted EBITDA was $4.665 billion, with an adjusted EBITDA margin of 18.5%. Net income attributable to common stockholders (non-GAAP) was $2.505 billion, with diluted EPS of $0.72 [2]. Automotive Sales and Market Performance - Tesla's automotive business revenue grew by 6% to $21.2 billion, driven by record vehicle sales, with global deliveries reaching 497,000 units, a 7.4% increase year-over-year, significantly exceeding market expectations of 439,600 units [2][3]. - In the Chinese market, Tesla sold 169,200 vehicles in Q3, a 31% quarter-over-quarter increase, with over 90,000 units delivered from the Shanghai Gigafactory in September alone [2]. Profitability Challenges - The decline in net profit was attributed to the introduction of lower-priced models and increased operating costs. Tesla launched standard versions of Model 3 and Model Y in October, reducing prices by approximately 12% [5]. - The automotive gross margin was reported at 15.4%, slightly below the average expectation of 15.6%, despite a surge in demand due to the expiration of a $7,500 federal tax credit for electric vehicle purchases [3][5]. Growth in Energy Sector - The energy generation and storage segment saw a significant revenue increase of 44% to $3.42 billion, marking it as the fastest-growing sector for the company, primarily driven by solar power and storage systems [5]. Future Developments - CEO Elon Musk announced collaborations with TSMC and Samsung for the design of Tesla's AI5 chip, which is expected to outperform the AI4 chip by 40% on certain metrics [5]. - Tesla is actively developing the Megapack 4 fixed storage product and plans to launch the Optimus V3 humanoid robot in Q1 of the following year, with Musk suggesting it could become a major product for the company [5]. - The company anticipates launching Robotaxi services in 8-10 regions by the end of the year, with full autonomous operations expected in Austin [6].