Tesla, Inc. (NASDAQ:TSLA) shares are in the spotlight on Wednesday ahead of third-quarter earnings, which are due after the market close.

Tesla stock went on a tear to end the third quarter, erasing early 2025 losses with investors betting on the firm’s AI-related ambitions.

Tesla has the smallest market capitalization of the Magnificent Seven these days, and gets less buzz than Nvidia. But the electric-car maker stands out another way: the value investors place on it, relative to near-term profits.

The electric vehicle giant reported a 12% year-over-year revenue increase to $28.095 billion in its third-quarter earnings, surpassing the consensus estimate of $26.239 billion. Tesla’s record EV deliveries and AI ambitions were highlighted, despite a drop in profits.

Electric vehicle pioneer Tesla (NASDAQ:TSLA) in Q3 CY2025, with sales up 11.6% year on year to $28.1 billion. Its non-GAAP profit of $0.50 per share was 10.3% below analysts’ consensus estimates. Is now the time to buy Tesla?

Tesla earnings missed but Elon Musk is on the call. The key indexes fell Wednesday as AI stock leaders came under pressure.

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),