Elon Musk Highlights Tesla's Steady Revenue Growth in Q3

Elon Musk, CEO of Tesla Inc. TSLA, recently took to X to showcase the electric vehicle giant's remarkable growth in third-quarter revenue over the years.

What Happened: On Saturday, Musk shared a list detailing Tesla's third-quarter revenue from 2010 to 2024. The tweet illustrated a consistent rise in the company's revenue for this quarter, climbing to $25.2 billion in 2024, compared to just $31.2 million in 2010.

The entrepreneur's reaction to this impressive data was succinct, as he summarized it by stating, "Progress."

Financial Report Overview: This social media post comes following Tesla's third-quarter earnings report, where the company announced a revenue of $25.18 billion. This figure slightly fell short of Wall Street's consensus estimate of $25.37 billion, as reported by Benzinga Pro.

Significance of the Growth: Despite narrowly missing the revenue estimates, Tesla recorded an 8% year-over-year revenue increase in its third-quarter results. This performance aligns with Musk's emphasis on the company's long-term revenue growth and progress.

Market Predictions: Tech analyst Dan Ives indicated prior to Tesla's Q3 deliveries that he expected the delivery figures to surpass market expectations. This contributed to a renewed sentiment that the "mojo is back at Tesla," a phrase often used to express confidence in the company's direction.

Image via Flickr

Further Information:

• Elon Musk's Insights: Musk discussed Tesla, SpaceX, and the costs associated with manufacturing in California, emphasizing that these decisions were based on personal preferences rather than governmental support.

Elon, Musk, Tesla