EV giant Tesla Inc. (NASDAQ: TSLA) on Wednesday said its third-quarter 2023 earnings declined from last year, despite an increase in revenues.
Revenues of the Austin-based car maker advanced 9% year-over-year to $23.4 billion in the third quarter. The company produced a total of 430,488 vehicles during the three-month period and delivered 435,059 units.
Earnings, excluding one-off items, declined to $0.66 per share in the September quarter from $1.05 per share a year earlier. Unadjusted net income came in at $1.85 billion or $0.53 per share in Q3, compared to $3.29 billion or $0.95 per share in the corresponding period of 2022.
