Tesla exceeded Wall Street estimates in its third-quarter report, posting adjusted earnings of $0.72 per share on revenue of $25.18 billion. This performance was driven by increased automotive sales, which rose to $20.02 billion, and improved gross margins, which hit 17.05%. The energy segment achieved a record gross margin of 30.5%.
Looking ahead, Tesla expects "slight" growth in vehicle deliveries in 2024, after facing demand concerns in China. The company's stock rose over 8% in after-hours trading following the news.
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