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Tesla profits dip as it invests in factory upgrades and AI development
Oct. 18, 2023, 8:44 p.m. | Umar Shakir
The Verge - All Posts www.theverge.com
Tesla continues to see its margins slip due to price cuts. Today the company reported earnings of $1.9 billion in net income on $23.4 billion in revenue during the third quarter of 2023. The figures represent a small bump in revenue, from $21.4 billion the same time last year, but a big dip in profits, falling from $3.3 billion on close to the same amount of revenue.
Tesla also missed its target date …
ai development alex billion development earnings factory illustration income margins price profits revenue small tesla third quarter
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