Tesla's operating profit fell 56% and operating margin slid to 2.6%, even with auto gross margin back at 18.5%. Shares fell over 4.5% after hours, erasing more than $68B, while Musk plans to keep spen

What happened: Tesla reported third quarter results with operating profit down 56% and net profit down 43%, while gross profit rose 9%. Musk said Tesla will keep spending on FSD, Robotaxi, Optimus and chip projects. Key numbers: Revenue $28.046B, automotive revenue $20.56B, gross profit $5.494B, gross margin 19.6%, Why it matters: Higher R&D and selling costs consumed the gross profit gain, and the after-hours drop reflected market disappointment. Tesla said it is pushing for broader FSD approval in China and set 2027 targets for private vehicles in Robotaxi and Optimus deliveries.

Tesla reported third quarter results with operating profit down 56% and net profit down 43%, while gross profit rose 9%. Musk said Tesla will keep spending on FSD, Robotaxi, Optimus and chip projects.

Higher R&D and selling costs consumed the gross profit gain, and the after-hours drop reflected market disappointment. Tesla said it is pushing for broader FSD approval in China and set 2027 targets for private vehicles in Robotaxi and Optimus deliveries.