Tesla reports a 17.3% Q3 profit increase, but projects a profit decline among tech competitors.

Tesla's recent earnings report indicates a surprising third-quarter profit of $2.17 billion, a 17.3% increase from the previous year. However, the company is projected to lag behind its competitors in the tech industry, as it is the only member of the "Magnificent Seven" expected to experience a profit decline this quarter. This suggests ongoing challenges for Tesla in maintaining its competitive edge among high-tech rivals.

October 23, 2024
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