Tesla’s third-quarter earnings call left investors disappointed as CEO Elon Musk focused on futuristic projects like robotaxis and humanoid robots, while providing little guidance on the company’s core EV business.
CNBC reports that Tesla’s third-quarter earnings call on Wednesday evening took a surprising turn as CEO Elon Musk spent most of the time discussing the company’s ambitious plans for robotaxis and humanoid robots, leaving Wall Street analysts and investors with more questions than answers about the electric vehicle maker’s current state of affairs.
The company’s stock slumped nearly four percent in extended trading following the earnings report but has recovered in Thursday trading. Tesla’s earnings missed analyst estimates, and a lack of commentary regarding the demand for Tesla’s electric vehicles also spooked some shareholders. Notably absent from the discussion were topics such as the impact of the expiration of a key federal tax credit last month, the impact of the Cybertruck flopping, and the effect of tariffs on auto parts.
Instead of addressing these pressing concerns, Musk chose to focus on his grand vision for the future, particularly the potential of Tesla’s robotaxi service and the humanoid robot project, Optimus. He expressed his belief that the public fails to appreciate the immense potential of these projects, stating that the introduction of robotaxis will be like a “shock wave” and that Optimus has the “potential to be the biggest product of all time.”
Musk predicted that Tesla would have its robotaxi service operating without human drivers in Austin by the end of the year and in eight to 10 cities by the close of 2025. However, the company has yet to produce or sell cars that are safe to use without human intervention, and its current fleet of vehicles with the partially automated driving system, FSD Supervised, has a small customer base of only 12 percent.
The Tesla CEO also made bold claims about the capabilities of the Optimus robot, suggesting that it will be an “incredible surgeon” and that, combined with self-driving technology, it can “create a world where there is no poverty, where everyone has access to the finest medical care.”
While these futuristic projects are undoubtedly exciting, investors and analysts were left wanting more information about Tesla’s core business. The company’s revenue growth has slowed in recent quarters, with analysts expecting a drop of about two percent in the fourth quarter. Tesla’s brand ranking has also declined, falling to the 25th spot on the Interbrand 2025 Best Global Brands list, down from 12th in 2024.
Investors submitted questions about new products in the pipeline through Tesla’s online forum, but investor relations lead Travis Axelrod twice refused to read them, stating that the earnings call was not the appropriate venue to cover such topics.
As the call drew to a close, Musk shifted the focus to his new pay package, which could be worth $1 trillion and increase his stake in the company by 12 percent. He criticized proxy advisors Institutional Shareholder Services and Glass Lewis for recommending shareholders vote against the plan, calling them “corporate terrorists” who “have no freaking clue.”
Read more at CNBC here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship.
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