Tesla (TSLA) Stock: Revenue Hits $25.18B, EPS Beats at $0.72

Tesla delivered a mixed Q3 result, trading at $94 following an earnings beat that executives discussed. Adjusted earnings per share (EPS) were $0.72, above analysts’ expected $0.60. Meanwhile, Tesla’s adjusted net income was $2.5 billion, and free cash flow reached $2.9 billion. One of the remarkable numbers was the gross margin at 19.8% compared to the expected 16.8%. This boosted investor confidence in the company’s current market position.

Tesla delivered 462,890 vehicles in Q3, showing a 6.4% growth over the previous quarter, slightly below Wall Street’s expected 463,897.

Promising Future: Cheaper EV and Cybertruck

Tesla’s future looks promising as CEO Elon Musk highlighted several major developments in the financial report. The company plans to introduce a more affordable electric vehicle (EV) in the first half of next year. Moreover, Musk projected annual Tesla volume growth of approximately 20% – 30% by 2024.

Another profitable segment was the Cybertruck, which showed a positive gross margin for the first time. The CEO discussed high-scale manufacturing of full Cybercab, planned for 2026, with an ambitious target to reach 2 million cars annually. Additionally, Tesla’s robotaxi testing in San Francisco, California, may advance autonomous driving capabilities.

Tesla Stock Chart Analysis

TSLA/USD 15-Minute Chart

Examining TSLA’s recent performance shows a bearish trend over the last few sessions. The stock declined from $ 222.81 on October 16 to a low of $212.11 on October 24, representing approximately a 5% loss. Despite impressive Q3 earnings, the stock continued declining, suggesting investor concerns about delivery numbers and broader market conditions.

Tesla (TSLA) Stock Faces Key Support at $212

From its recent low, the stock showed a minor recovery, reaching $213.57. However, it remains near crucial support levels. A break below $212 could signal continued investor caution. Alternatively, the stock might resolve upward and clear resistance at $216.

While EPS and gross margins exceeded expectations, delivery numbers slightly missing targets may contribute to recent weakness. Market sentiment and economic factors remain crucial for Tesla’s performance.

We’ll monitor potential price breakouts below $212 or upward moves that might indicate an early rebound. Caution is warranted as market stagnation continues.

If you’re watching Tesla (TSLA), monitor the $212 support level. A breakdown could lead to further decline, while movement above $216 might signal recovery. Exercise caution and observe market conditions before making investment decisions.

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