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Tesla’s Earnings Fall as Price Cuts Weigh on Profits

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Battery charging. Giant touchscreens. Semi-autonomous driving. EVs have become computers on wheels. WSJ’s Joanna Stern took three of the leading cars on a road trip and then leased the best one. Photo illustration: Annie Zhao/The Wall Street Journal

Battery charging. Giant touch screens. Semiautonomous driving. EVs have become computers on wheels. WSJ’s Joanna Stern took three of the leading cars on a road trip and then leased the best one. Photo illustration: Annie Zhao/The Wall Street Journal

Tesla’s profit tumbled 44% in the third quarter, a steeper drop than many on Wall Street had expected, as the impact of steep price cuts across the company’s lineup continued to take a toll on the electric-car maker’s bottom line. Revenue was up 9% to $23.4 billion, lifted by higher vehicle deliveries compared to the same year-ago quarter, the company said Wednesday. .This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

 

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