Business

Tesla's third-quarter profit tumbles 42 percent

The US electric carmaker reported net income of 804 million dollars in the third quarter, a sharp decline from the same period last year.

22 October 2026Tagblick Newsdesk

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Archive photo: Tesla's third-quarter profit tumbles 42 percent — Archive photoPhoto: Narasi · Wikimedia Commons · CC BY 3.0

Tesla reported net income of 804 million dollars in the third quarter, representing a 42 percent drop compared with the same period a year earlier. The company's revenue for the quarter reached 28.05 billion dollars.

Other major technology companies also announced results for the period. Spotify disclosed a profit of 518 million euros after a 42 percent decline, while revenues reached 4.969 billion euros, of which 4.487 billion came from premium subscriptions and 482 million from advertising revenue.

Nokia, meanwhile, more than doubled its net profit to 240 million euros. However, the company's operating result declined 43 percent to 229 million euros between January and September, though gross profit grew 7.7 percent to 6.298 billion euros compared with the same period a year earlier.

P&G maintained its profit at 4.211 billion euros in the period under review.

Prada's third-quarter results were less favourable, with retail sales declining 3 percent between July and September, affected by the performance of the Miu Miu brand during the quarter.

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