Tesla Posts Q3 Profit Surge as Buyers Rush to Beat EV Credit Deadline
Tesla returned to profitability in the third quarter as buyers raced to claim expiring federal EV incentives. The automaker reported $1.4 billion in net income despite a 37% profit decline compared to the same period last year.
Quarterly Financial Performance
Tesla reportedly generated $28.1 billion in revenue during the third quarter, marking a 12% increase year-over-year, according to the company’s earnings report. The electric vehicle manufacturer earned $1.4 billion in net income for the quarter ending in September, though this represents a 37% decrease from the $2.2 billion profit recorded during the same period in 2024. Sources indicate the revenue figures exceeded Wall Street expectations of $26.24 billion, based on data compiled by LSEG.