Tesla stocks fall despite Q3 earnings beat: What spooked investors?

What happened: Tesla shares fell after the company reported better-than-expected adjusted earnings and positive free cash flow but cut its 2026 capital expenditure forecast. Key numbers: Q3 revenue $28.05 billion vs $28.13 billion consensus. Adjusted EPS $0.48 vs $0.44 expected. Free cash flow $1.53 billion. Capex guidance cut to about $20 billion from more than $25 billion. Q3 capex about $4.73 billion. Why it matters: The lower spending outlook raised investor concerns about the pace of investment in AI, robotaxis and humanoid robots, initiatives central to Tesla's long-term valuation. Coverage: 4 outlets in 24h

Tesla shares fell after the company reported better-than-expected adjusted earnings and positive free cash flow but cut its 2026 capital expenditure forecast.

The lower spending outlook raised investor concerns about the pace of investment in AI, robotaxis and humanoid robots, initiatives central to Tesla's long-term valuation.