Tesla’s Profit Falls 43% as Spending on Optimus Robots and Cybercabs Climbs

2 min read
Tesla’s Profit Falls 43% as Spending on Optimus Robots and Cybercabs Climbs
PrimeXBT Editorial Team
Reviewed by PrimeXBT

Topics in article

Tesla's third-quarter profit fell 43% to $787 million on flat revenue as the company raised spending on Optimus robots and Cybercab robotaxis. Musk says Optimus deliveries to outside customers are around the end of 2027, while Tesla is trying to get Cybercabs to customers by the end of 2026.

Tesla's profit fell 43% last quarter to $787 million, down from $1.37 billion a year earlier. The carmaker put money into humanoid robots and driverless taxis while delivering about 2% fewer cars.

Spending on robots and robotaxis outpaces flat revenue

Revenue stayed flat at $28.05 billion, but operating profit fell 56% to $718 million. Research spending rose 69% to $2.76 billion, and capital expenditures more than doubled to $4.73 billion.

That money targets two products. Optimus is a humanoid robot meant to take over dangerous and repetitive jobs, and the Cybercab is a two-seat robotaxi with no steering wheel or pedals.

Optimus enters production in Fremont

Tesla said Wednesday that Optimus has entered production at its Fremont, California, factory. Musk wants to reach 20,000 units a week, but he said getting there will take at least a year because the design is still changing.

He put deliveries to outside customers around the end of 2027. Tesla has missed Optimus targets before, including a goal of about 10,000 robots in 2025.

Cybercab timeline and Musk's merger remarks

On the earnings call, Lars Moravy, Tesla's vice president of vehicle engineering, said: "We're trying to get Cybercabs to customers by the end of this year, 2026." Every Cybercab built so far is headed to Tesla's own robotaxi fleet, and Tesla has not announced a price.

Musk said the robotaxi business should become noticeable in Tesla's financials in the second quarter of 2027. Tesla has not disclosed how much money the service brings in.

Separately, Musk said the Tesla and SpaceX boards have each formed special committees of independent directors to study a combination, and no terms have been agreed. A deal needs support from holders of 50% of all outstanding Tesla shares, and the annual shareholder meeting is December 3 with no merger vote on the agenda.

Source: Decrypt

Trading involves risk.

Most traded markets

XAU / USD
-2.86% 4,022.77
CRUDE
+1.51% 100.861
BTC / USD
-3.7% 81,329.1
EUR / USD
-0.13% 1.12178
USTEC
-3.18% 28,879.06
NFLX
+2.34% 66.48
View all markets

Author

PrimeXBT
Our Editorial Team consists of leading experts with a proven record in the fields of trading, cryptocurrencies, blockchain and finance. We thoroughly research the sources of information in order to provide readers with quality content that serves edu...
Read author’s articles
Alert Triangle Risk Disclaimer
Disclaimer: Some past publications may be outdated. We recommend following our news to stay up to date with the latest information. For any questions, feel free to contact our support team via the chat below.
The content provided here is for informational purposes only. It is not intended as personal investment advice and does not constitute a solicitation or invitation to engage in any financial transactions, investments, or related activities. Past performance is not a reliable indicator of future results.
The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.

Today in markets

Browse Stock News

Register Now

Trading involves risk

Get started in minutes

Our clients love how fast and simple our sign-up is. It takes just a few minutes to get started!

Get Started Get Started
Get started in minutes

Need Help?

Risk Warning:
Trading in leveraged products carries a high level of risk and may not be suitable for all investors.