Tesla’s quarterly profit fell 43 percent to $787 million. Revenue was about flat at $28 billion, and adjusted earnings of $0.48 a share beat estimates. The company has started building Optimus robots in Fremont, and spending on AI and robots weighed on margins.
A factory start is not a robot for sale
“Started building in Fremont” means production work has begun at that plant. It is not a delivery date or a price for Optimus.
The profit drop and the earnings beat can both be true. Profit dollars fell 43 percent. The per-share adjusted figure was still above what analysts had modeled.
A reader trying to separate the car company’s quarter from a humanoid that is now on a Fremont line.