Tesla’s third-quarter earnings call disappointed investors as CEO Elon Musk focused heavily on futuristic projects like robotaxis and humanoid robots, offering little guidance on the company’s core electric vehicle (EV) business. The company missed analyst profit expectations, and Musk’s remarks did little to reassure shareholders concerned about the near-term outlook.
Tesla reported $28.1 billion in revenue for the quarter, but net profit fell by 37% to $1.4 billion. The company’s stock declined nearly 4% in after-hours trading on Wednesday before recovering somewhat the next day. Analysts and investors expected discussion on key challenges, including declining EV demand, the expiration of a federal tax credit, Cybertruck concerns, and rising tariffs. Musk largely avoided these topics.
Instead, Musk used the call to highlight the company’s robotaxi ambitions. He predicted that Tesla would deploy fully autonomous robotaxis without safety drivers in Austin by the end of the year, and in up to ten cities by the end of 2025. However, Tesla has yet to produce a vehicle that can operate safely without human intervention. Currently, only 12% of Tesla’s fleet uses its semi-autonomous “FSD Supervised” software.
Musk also promoted the company’s humanoid robot, Optimus. He made bold claims about its future capabilities, saying it could eventually perform surgeries and help eliminate global poverty. Optimus is still in the early development stage.
While these projects may hold long-term potential, investors expressed concern about Tesla’s immediate financial health and strategic priorities. The company’s brand ranking has dropped from 12th in 2024 to 25th in Interbrand’s 2025 Best Global Brands list, reflecting declining consumer enthusiasm.
Investor relations director Travis Axelrod refused to answer shareholder-submitted questions about new products, stating they were not appropriate for the earnings call. Musk concluded by criticizing proxy advisors who opposed his proposed $1 trillion pay package, calling them “corporate terrorists.”
The call left many wondering whether Tesla’s leadership is too focused on speculative ventures, while its core vehicle business faces growing competition and financial headwinds.
