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Tesla Profit Misses Expectations Despite Record Sales and Revenue

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Tesla posted record third-quarter revenue of $28.1 billion, surpassing analyst estimates of $26.37 billion, but profits fell short due to rising costs, tariffs, and shrinking regulatory credit income. Shares dropped 4% in extended trading as investors reacted to the weaker earnings and fading government incentives that have long supported electric vehicle demand.

Profit per share came in at 50 cents, below the expected 55 cents. The company cited over $400 million in tariff-related costs and a 50% increase in R&D spending, largely tied to AI and robotics projects. Regulatory credit sales fell to $417 million from $739 million a year earlier, signaling continued decline.

Tesla’s gross margin stood at 18%, slightly above estimates, while automotive margins excluding credits reached 15.4%. To sustain demand amid expiring U.S. tax credits, Tesla launched lower-cost “Standard” versions of its Model 3 and Model Y, though analysts warned the move could compress profits further.

Despite the short-term challenges, Tesla remains focused on expansion. CEO Elon Musk said production of the Cybercab robotaxi, Semi truck, and Megapack 3 battery is set for 2026. The company’s energy division grew 81% in storage deployments, and Musk confirmed plans for mass production of the humanoid robot Optimus by late 2026.

Zoox Opens Robotaxi Factory, Escalating Rivalry with Tesla and Waymo

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Amazon-owned Zoox has officially launched its first robotaxi production facility, signaling a major step toward commercializing its autonomous vehicle service and intensifying competition with industry leaders Tesla and Waymo.

Located in Hayward, California, the new 220,000-square-foot factory is capable of assembling over 10,000 robotaxis per year at full capacity. While Zoox has not disclosed its initial production figures, the move reflects its plans to scale significantly as it prepares for public ride launches.

The company is currently testing its fully autonomous, purpose-built robotaxis — uniquely designed vehicles with no steering wheels or pedals — in multiple U.S. cities. It expects to begin commercial operations in Las Vegas later this year, followed by expansion in San Francisco, where it is already operating in the SoMa (South of Market) neighborhood.

“Anticipated public demand and upcoming market entries justify this scale-up in production,” Zoox stated, hinting at more widespread deployments in the coming years.

Zoox’s entry comes at a pivotal moment in the robotaxi race:

  • Waymo, owned by Alphabet, already runs a mature driverless taxi service and is expanding across U.S. cities.

  • Tesla, led by Elon Musk, plans to launch its paid robotaxi service on June 22, using Model Y SUVs with self-driving software, and later a Cybercab—a futuristic, manual-control-free, two-seater vehicle.

Unlike Waymo’s retrofitted models and Tesla’s modified SUVs, Zoox’s vehicles are custom-built from the ground up, resembling compact “toaster ovens” and designed specifically for autonomous operations.

Still, all major players in the space face substantial hurdles. Regulatory constraints, safety concerns, and cost overruns have hampered progress toward full autonomy. Moreover, companies including Zoox, Tesla, and Waymo have been subject to federal investigations and recalls after incidents involving their autonomous systems.

Nevertheless, Zoox’s new production hub marks a bold bet that it can move from limited testing to mass deployment, turning science fiction into a scalable reality.

Tesla’s ‘Robotaxi’ Trademark Rejected for Being Too Generic, Says TechCrunch

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The U.S. Patent and Trademark Office (USPTO) has rejected Tesla’s application to trademark the term “Robotaxi” for its autonomous vehicles, ruling that the term is too generic, according to a report by TechCrunch on Wednesday.

Key Points:

  • The USPTO issued a nonfinal office action, giving Tesla three months to respond before the application is officially abandoned.

  • Tesla’s separate application to trademark “Robotaxi” for its upcoming ride-hailing service remains under review.

  • Tesla also attempted to trademark “Cybercab”, but that application is on hold due to conflicts with other trademark claims involving the prefix “Cyber”.

Implications for Tesla:

This development could complicate Tesla’s branding strategy for its upcoming autonomous ride-hailing service, which is slated to launch in Austin, Texas by June. The inability to secure exclusive rights to widely used industry terms may limit Tesla’s marketing and legal protection around these initiatives.

Context:

  • Tesla has been vocal about its ambitions to introduce “autonomous ride-hailing for money,” but the company has acknowledged that shifting global trade policies and political uncertainty may impact both its production and demand forecasts.

  • The term “robotaxi” is commonly used across the autonomous vehicle industry to describe self-driving cabs, making it difficult to claim proprietary ownership.