Shares of Tesla Inc. dropped close to 5% during Thursday's premarket session hours after the multinational automotive company published its results for the third quarter of 2023.
Yesterday, after the markets closed, Tesla's revenue missed estimates, increasing 9% year over year, equal to $23.4 billion. Also, its net income declined annually by 44% to stand at $1.85 billion. Furthermore, Elon Musk’s firm registered its diluted earnings per share at $0.53, a fall of 44%.
The company's shares plunged 5.00% at 5:02 am ET, going for $230.55.