Tesla reported earnings after the bell. Here are the results.
Tesla reported third-quarter earnings after the bell Wednesday, and it’s a beat on both the top and bottom lines. The company’s stock dropped less than a point after hours on the results. Here are the results. The company reported $1.62 billion in (GAAP) net income for the quarter, the second time it has surpassed $1 billion. In the year-ago quarter, net income was $331 million. The record results were driven by improved gross margins of 30.5% on its automotive business and 26.6% overall, both of which are records for at least the last five quarters. Tesla generated $806 million from its energy business, including its solar and energy storage products for homes and utilities, and $894 million in services revenue, including revenue from its Full Self-Driving package.
