Elon Musk Highlights Tesla's Revenue Growth for Q3

Elon Musk, CEO of Tesla Inc. TSLA, has recently shared on social media platform X the remarkable growth in revenue that Tesla has achieved in the third quarter over the years.

Details on Revenue Growth: On Saturday, Musk posted a list showing the progression of Tesla's third-quarter revenue from the year 2010 to 2024. The data illustrated a consistent upward trend, with the revenue climbing from just $31.2 million in 2010 to an anticipated $25.2 billion in 2024.

The simple but potent reaction Musk had to these figures was the word, “Progress.”

Context of Earnings Report: Musk's post came shortly after Tesla's official earnings report for the third quarter, which revealed a total revenue of $25.18 billion. This was slightly below Wall Street's consensus estimate of $25.37 billion as noted by market analysis tool Benzinga Pro.

Implications of Revenue Performance: Even though Tesla's reported revenue was just shy of expectations, it still represented an 8% increase compared to the same period last year. This consistent revenue growth is in line with Musk’s portrayal of the company’s financial performance in his post.

Market Predictions: Prior to Tesla's Q3 delivery figures, tech analyst Dan Ives suggested that the company’s deliveries would exceed expected numbers. This view contributed to an optimistic sentiment that seemed to indicate a resurgence in Tesla's market momentum.

Image credit: Flickr

Looking Ahead:

• Additional Insights: Musk has also commented on Tesla and SpaceX's operations, reflecting on his decision to manufacture in California despite the apparent challenges posed by local government practices.

Elon, Tesla, Revenue