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Tesla reports Q3 revenue growth, but earnings miss

Tesla reported $28.10 billion in Q3 revenue, a 12% YoY increase ending two consecutive quarters of decline. However, adjusted earnings of 50 cents per share missed the 54 cents analysts expected, sending shares down nearly 5% after hours. Net income dropped 37% to $1.37 billion, reflecting continued EV price cuts and a 50% rise in operating expenses. While automotive revenue rose 6% to $21.2 billion, regulatory credit revenue fell 44%. The company confirmed progress on the Cybercab and Optimus robots but provided limited guidance on near-term production targets.

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