Tesla Inc. shares fell over 5% in extended trading on Wednesday, October 22, after a sharp jump in costs dented the electric vehicle manufacturer's profits, despite record sales during the recently concluded quarter.

Tesla reported Earnings Per Share of $0.5, while analysts had projected a figure of $0.54. Sales of $28.1 billion not only beat expectations, but also grew for the first time in three quarters.

Operating expenses for the quarter soared by 50% year-on-year to $3.4 billion. Tesla sees an impact of $400 million due to the Trump administration's tariff policy.

Chief Financial Officer Vaibhav Taneja acknowledged that competition and tariffs represent obstacles for the company.

CEO Elon Musk is promising a future that will have AI, humanoid robots and self-driving technology, bu

See Full Page