Tesla earnings slide despite record revenue


Tesla has seen its profits slide even as it reported record quarterly revenue after US buyers rushed to secure a key tax credit on electric car purchases before it ended last month.

The firm said revenue for the three months to the end of September hit a record $28bn (£21bn), up 12% from the same time last year.

But the company’s profits dropped by 37% for the same period, partly due to extra costs linked to tariffs and research.

The results come ahead of a vote by shareholders in November on a new pay package for chief executive Elon Musk that could be worth as much as $1tn.


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