Tesla posted record quarterly revenue but its profit came in below Wall Street's expectations. The stock fell 4% after hours during the analyst call.

Tesla chief Elon Musk said in a call with investors on Wednesday that his team is “on the cusp of something really tremendous” with Optimus, the humanoid robot that it’s been working on since 2021.

Tesla's profit actually fell 37% compared to the same period last year, despite buyers rushing to take advantage of the expiring EV tax credit.

Tesla said Wednesday that its profit sank in the third quarter after it cut car prices to lift sales. Profit fell to $1.4 billion from $2.2 billion a year earlier, a drop of 37 percent, the company said. Sales rose to $28.1 billion from $25.2 billion.

Tesla's revenue rose 12% year on year, the first increase in three quarters. Despite that, net income plunged 37% from a year earlier.

Tesla reported a profitable third quarter today — its first this year — as shoppers scrambled to snatch up the company’s EVs in record numbers before the federal EV tax credit expired.

Tesla is still predicting they will go unsupervised this year in Austin. Their crash numbers don't say they should

Tesla has seen its profits slide even as it reported record quarterly revenue after US buyers rushed to secure a key tax credit on electric car purchases before it ended last month. The firm said revenue for the three months to the end of September hit a record $28bn (£21bn), up 12% from the same time last year.