China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Tesla Beats Q3 Estimates, Forecasts 2024 Delivery Growth
Tesla delivered third-quarter results that exceeded Wall Street expectations, reflecting improved margins and stronger automotive sales. Despite challenges in the electric vehicle (EV) market, Tesla predicts "slight" growth in vehicle deliveries for 2024.
Q3 Earnings Surpass Expectations
For Q3, Tesla reported adjusted earnings per share (EPS) of $0.72 on revenue of $25.18 billion, beating analysts' forecast of $0.60 EPS, though revenue slightly missed the $25.4 billion estimate. Tesla shares rose by over 8% in after-hours trading.
The company’s automotive sales reached $20.02 billion, up from $19.63 billion in the same period last year. Additionally, gross margins, excluding regulatory credits, improved to 17.05%, up from 14.7% in the previous quarter.
Energy Business Hits New Record
Tesla's energy division posted a record gross margin of 30.5% in Q3, driven by increased Powerwall deployments, despite lower Megapack volumes. The company expects energy storage deployments to double year-over-year in 2024.
Services and Future Outlook
Tesla’s services and other business sectors saw a gross profit surge of over 90% year-on-year in Q3. Moving forward, the EV maker is preparing to introduce new, more affordable vehicles by the first half of 2025.
Although Tesla's stock has declined 14% this year amid concerns over demand and competition in China, the company remains optimistic about future growth.
