Tag: Automotive industry

BusinessInnovationTechnology

Tesla Q3 Earnings Report Reveals 37% Profit Decline Amid Musk’s AI Robot Focus

Tesla reported a significant 37% decline in third-quarter profits despite record vehicle deliveries. CEO Elon Musk’s focus on the Optimus humanoid robot during the earnings call drew attention away from immediate business concerns raised by shareholders.

Profit Decline and Market Reaction

Tesla shares reportedly declined approximately 5% following the company’s third-quarter earnings release, which revealed a significant drop in profitability. According to the analysis, Tesla’s profits sank to $1.4 billion, representing a 37% decrease compared to the same period last year. This profit slide occurred despite the automaker achieving record vehicle deliveries exceeding 497,000 units during the quarter.

by Oliver Keaton
BusinessGovernance

Proxy Advisor ISS Urges Tesla Investors to Block Musk’s $1 Trillion Compensation Plan

Institutional Shareholder Services has advised Tesla investors to vote against Elon Musk’s $1 trillion pay package, marking the second consecutive year of opposition. The proxy firm expressed concerns about the award’s magnitude and design, while Tesla defended the compensation plan as essential for retaining Musk’s focus.

Proxy Advisor Opposes Musk’s Compensation Package

Institutional Shareholder Services (ISS) has recommended that Tesla investors reject CEO Elon Musk’s proposed compensation package valued at approximately $1 trillion, according to reports. This marks the second consecutive year that the influential proxy advisory firm has urged shareholders to vote against a pay package for Musk, with the upcoming shareholder meeting scheduled for November 6.

by Oliver Keaton