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News
Thursday, October 23, 2025
What’s happening: Shares of Tesla fell in after-hours trading on Wednesday following the release of the company’s third-quarter results.
What happened: The electric vehicle company posted better-than-expected revenues for the latest quarter, topping estimates after four consecutive misses.
However, Tesla failed to meet expectations for earnings, missing estimates for the fourth straight quarter.
How were the results: The Austin, Texas-based company reported low double-digit revenue growth for the third quarter.
Why it matters: Tesla posted record revenues for the third quarter as customers in the US rushed to lock in EV tax credits before their expiry in September. The US government has now eliminated the $7,500 EV federal tax credit, which had provided a major boost to the demand for electric vehicles so far.
Tesla had previously reported 497,099 vehicle deliveries for the third quarter, hitting a new record.
Tesla said its revenue growth in the latest quarter was driven by gains in delivery, energy, and services, offset slightly by lower regulatory credit revenue.
Automotive revenue rose 6% year-over-year to $21.21 billion in the quarter. Operating income shrunk by 40% to $1.6 billion, with operating margins coming in at 5.8%.
Tesla said it has enough liquidity to provide funding to its product roadmap and for its long-term plans of increasing capacity.
The EV maker also said that its Cybercab, Tesla Semi and Megapack 3 are on course for volume production next year.
“We believe our scale and cost structure will enable us to navigate the shifting market dynamics across the globe more efficiently than our peers, with advances in AI making our products the most compelling in the market,” the company said in a statement.
How shares responded: Shares of Tesla fell 3.8% to $422.27 in after-hours trading on Wednesday. The stock has jumped more than 84% over the past six months.
What to watch: Investors will continue monitoring Tesla’s upcoming products, including the Model Y Performance, Model YL, and the affordable Model 3 and Model Y Standard vehicles.
Context: The GBP/USD forex pair fell this morning as investors assessed the latest inflation data.
Details: Data released on Wednesday showed that UK inflation held at 3.8% in September. The figure also came in better than market expectations of 4%, with continued easing in food price inflation. The news triggered speculations of the Bank of England slashing interest rates soon.
Meanwhile, the core inflation rate fell to 3.5% in September, from August’s 3.6%. This also came in better than market expectations of 3.7% and was the lowest reading since May.
Investors now expect the BoE to begin lowering rates early next year, as inflation is projected to continue easing, while labour market data showed further signs of cooling.
Meanwhile, factory gate prices for UK manufactured goods surged 3.4% year-over-year in September, accelerating from 3.1% in August.
Strength in the US dollar also weighed on the GBP/USD pair. The US dollar index, which measures the greenback’s performance versus a basket of major peers, gained around 0.1% to 98.97 this morning.
The GBP/USD forex pair fell 0.1% to 1.3346 this morning. The FTSE 100 rose 0.93% to close at 9,515.00 on Wednesday, recording gains for the third consecutive session.
What to watch: Data on Confederation of British Industry’s business optimism index (1400 UAE Time) and CBI industrial trends orders (1400 UAE Time) will be released today. The CBI’s survey, which showed the UK’s total order book balance rose to -27 in September from -33 in July, is expected to decline to a reading of -30 in October.
Other Markets: European indices closed lower on Wednesday, with the DAX 40, CAC 40 and STOXX Europe 600 Index down by 0.74%, 0.63% and 0.18%, respectively.
The US announced sanctions on Russia’s major oil companies after Moscow conducted nuclear drills. The news sent the RUB/USD pair lower in forex trading this morning.
Argentina’s economic activity rose by 2.4% year-over-year in August, easing from July’s 3.1% growth. The latest reading missing market expectations of 2.5% exerted pressure on the ARS/USD forex pair.
The Bank of Korea kept its base rate unchanged at 2.50% in October, which sent the KRW/USD pair lower in forex trading this morning.
Mexico’s economic activity index declined 0.9% year-over-year in August, following a 1.1% downturn in the previous month, which exerted pressure on the MXN/USD forex pair.
US crude oil inventories declined by 0.961 million barrels in the week ending Oct. 17, compared to market estimates of a gain of 1.2 million barrels, which sent WTI crude oil prices higher this morning.
Spain’s balance of trade (1200 UAE Time), UK’s Treasury Gilt 2031 auction (1300 UAE Time), Turkey’s interest rate decision (1500 UAE Time) and foreign exchange reserves (1530 UAE Time), Mexico’s mid-month core inflation rate (1600 UAE Time) and retail sales (1600 UAE Time), Canada’s retail sales (1630 UAE Time) and manufacturing sales (1630 UAE Time), US Chicago Fed National Activity index (1630 UAE Time), existing home sales (1800 UAE Time), EIA natural gas stocks change (1830 UAE Time), Kansas Fed composite index (1900 UAE Time), Kansas Fed manufacturing index (1900 UAE Time), 4-week Bill auction (1930 UAE Time), 8-week Bill auction (1930 UAE Time), 15-year Mortgage Rate (2000 UAE Time), 30-year Mortgage Rate (2000 UAE Time) and 5-year TIPS auction (2100 UAE Time), Eurozone’s consumer confidence (1800 UAE Time), as well as Argentina’s consumer confidence (1830 UAE Time) and retail sales (2300 UAE Time).
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