Follow UsTesla's Profit Drops 43% as Musk Starts Building Robots and Plans to Sell Driverless Cabs
Neutral+4.18%
22 Oct, 18:06
Source: Decrypt
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Tesla reported a 43% quarterly profit decline driven by soaring investments in its Optimus robot and Cybercab autonomous vehicle programs, balancing near-term earnings pressure with long-term technological expansion.
Tesla earned $787 million last quarter, down from $1.37 billion, as spending on robots and self-driving cars soared. Optimus is in production, and Tesla aims to get Cybercabs to customers by year-end.