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International Business Times
International Business Times
World

Tesla Profits Tumble On Higher Costs, Tariff Drag

Tesla profits fell due to higher costs despite a boost to revenues from increased auto sales (Credit: AFP)

Tesla reported a hefty drop in profits Wednesday, citing a drag from tariffs and other expenses that more than offset a lift from increased auto sales.

Elon Musk's electric car company reported profits of $1.4 billion in the third quarter, down 37 percent from the year-ago period.

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