Tesla Inc. (NASDAQ: TSLA) reported its third quarter 2024 earnings results today.
Total revenues increased 8% year-over-year to $25.1 billion.
Net income attributable to common stockholders increased 17% to $2.17 billion, or $0.62 per share, compared to last year. Adjusted EPS rose 9% to $0.72.
Earnings beat estimates but revenue fell short.
At quarter-end, cash, cash equivalents and investments totaled $33.6 billion.
Tesla said that despite ongoing macroeconomic conditions, it expects to achieve slight growth in vehicle deliveries in 2024. Energy storage deployments are expected to more than double year-over-year in 2024.
The stock jumped over 8% in aftermarket hours on Wednesday following the earnings announcement.