Tesla Net Income Increase
Updated
Tesla’s third-quarter net income rose 17.3% as electric vehicle sales increased for the first time this year. The company reported a $2.17 billion profit, up from $1.85 billion in the same period of 2023. Despite price cuts and low-interest financing, it was Tesla’s first profit increase in 2024. Revenue rose 7.8% to $25.18 billion, but missed Wall Street's estimate of $25.47 billion. Tesla earned 72 cents per share, beating the 59 cents expected by analysts. Given the strong earnings growth and improving sales, Tesla’s stock price has potential for further increase, possibly reaching its previous high.
This is not a financial advice.
This is not a financial advice.
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The analysis was posted yesterday, and since then, the price has risen by $22. I hope everyone who saw the market insight was able to capitalize on the opportunity and make a solid profit.
Happy trading!
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