Tesla third-quarter profit falls sharply but beats forecasts

Tesla reported a sharp year-over-year decline in net profit for the third quarter, though the result still beat analyst expectations. The company announced the figures on Wednesday. Revenue remained nearly flat at $28.05 billion, while net profit fell to $787 million from $1.37 billion a year earlier. Adjusted earnings per share were 48 cents, exceeding the consensus forecast of 45 cents. Vehicle deliveries reached 486,532 units, surpassing market expectations but declining from 497,099 last year due to unfavorable comparisons. The company highlighted strong demand, battery supply constraints, and early production of its Optimus robot and Semi truck.