Tesla Q3 revenue exceeds expectations but profits under pressure

Jinse Finance reported that Tesla (TSLA.O) announced third-quarter profits below expectations, despite its electric vehicle sales reaching a record high, indicating that the company is facing pressure from changing U.S. policies and rising costs. The company's financial report showed adjusted earnings per share for the third quarter at $0.50, while analysts had expected an average of $0.54. However, quarterly revenue was $28.1 billions, exceeding market expectations. The company reiterated its previous quarter's statement that it is difficult to assess how changing global trade and fiscal policies will affect its business and operations. Tesla believes its performance depends on the broader macroeconomic environment, as well as the pace of accelerating its autonomous driving efforts and increasing production of key products. Analysts expect Tesla's vehicle deliveries to decline for the second consecutive year. Earlier this month, Tesla reported record third-quarter sales as consumers rushed to buy electric vehicles before the U.S. tax credit policy expired on September 30, providing a temporary boost to the company's core automotive business.