Tesla beats expectations in third-quarter report

Tesla beat analyst expectations in its third-quarter report on Wednesday evening, with revenue reaching $28.05 billion against forecasts of $27.9 billion. Adjusted earnings per share hit $0.48, surpassing the predicted $0.43. The stock rose in after-hours trading following the results. Revenue from Tesla's automotive business declined by 3 percent compared to the same quarter last year, despite the overall earnings beat. The company's performance still exceeded analyst projections on key financial metrics for the period. The positive market reaction in after-hours trading reflects investor relief at the stronger-than-expected figures. Tesla's quarterly results come amid ongoing competitive pressures in the electric vehicle market.