Tesla stock is on the up after America's most valuable automaker reported its third quarter results – including the news that the beleaguered Cybertruck "achieved a positive gross margin for the first time."

Here's the results [1]rundown [PDF]:

Revenue – $25.18 billion, slightly below analysts' expectations but still up 8 percent year-on-year.

Net income – $2.17 billion, up 17 percent on 12 months ago.

Earnings per share – $0.62 dividend for shareholders was were also up 17 percent.

Deliveries – 469,796 vehicles, up 3 percent. Of those, 443,668 were Model 3 or Y motors.

"Our company is currently between two major growth waves: the first one began with the global expansion of the Model 3/Y platform and we believe the next one will be initiated by advances in autonomy and introduction of new products, including those built on our next generation vehicle platform," Tesla [2]told [PDF] investors.

"Despite ongoing macroeconomic conditions, we expect to achieve slight growth in vehicle deliveries in 2024. Energy storage deployments are expected to more than double year-over-year in 2024."

[3]The billionaire behind Trump's 'unhackable' phone is on a mission to fight Tesla's FSD

[4]Musk's $1M election lottery raises serious legal concerns, says Pennsylvania governor

[5]Tesla FSD faces yet another probe after fatal low-visibility crash

The fact that Tesla is worth more than traditional American car companies – at least according to the stock market – is one of those baffling questions. It's facing increasing competition from EV rivals foreign and domestic, and has endured numerous recalls and negative press for the vaunted Cybertruck. After the [6]rather embarrassing fake demo of human robots last week the automaker's stock price took a hit – but it's all good now, apparently.

"The stock dropped 6.5 percent after the launch, [7]longtime Tesla critic Dan O'Dowd told The Register . "But you know, once they were worth more than all the automakers put together, even though they only have about two percent world market share."

[8]

The Middle Kingdom rises – Click to enlarge

His Muskiness also touted the effectiveness of his solar power empire. Based on the figures, he'll need it. ®

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[1] https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q3-2024-Update.pdf

[2] https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q3-2024-Update.pdf

[3] https://www.theregister.com/2024/10/21/odowd_tesla_trump/

[4] https://www.theregister.com/2024/10/21/shocking_elon_musks_1m_election/

[5] https://www.theregister.com/2024/10/18/tesla_fsd_lowvisibility_accident/

[6] https://www.theregister.com/2024/10/11/tesla_robotaxi_robovan_arrive/

[7] https://www.theregister.com/2024/10/21/odowd_tesla_trump/

[8] https://regmedia.co.uk/2024/10/24/tesla.jpg

[9] https://whitepapers.theregister.com/