Here are the main takeaways from Tesla's Q3 2025 financial results: 🔻 Earnings down to $0.50/share, below expectations of $0.55/share 🟢 Record revenue at $28.1B thanks to US demand from last-minute federal EV tax credit buyers 🔻Operating income down 40% YoY despite record sales 🔻 Gross margin fell from 19.8% to 18% due to price cuts and loss of regulatory credits 💰 Capex spending is down, so the earnings drop isn’t due to future investment 💰 Tesla cash reserves grew to $41.6B, boosting its