Tesla (TSLA) reported third-quarter earnings that beat analysts' expectations as margins improved, sending shares higher in extended trading Wednesday.

The electric vehicle (EV) maker posted third-quarter net income of $2.17 billion or 62 cents per share, up from $1.85 billion or 53 cents per share a year ago, topping analysts' estimates as margins rose to 19.8% from 17.9%. Revenue grew 8% year-over-year to $25.18 billion, slightly missing the analyst consensus from Visible Alpha.

Earlier this month, Tesla said it 澳洲幸运5官方开奖结果体彩网:delivered 462,890 vehicles in the quarter, which topped expectations. The company added Wednesday that its "plans for new vehicles, including more affordable models, remain on track for s♐tart of production in the first half of 2025."

Shares of Tesla jumped over 8% in exten🌟ded trading Wednesday following the release.

Tesla's Earnings Beat Comes After Robotaxi Event Disappointed

Tesla's earnings beat comes after the EV maker's stock took a hit earlier this month following the company’s 澳洲幸运5官方开奖结果体彩网:robotaxi event, which saw the unveiling of a prototype "Cyb﷽ercab," along with a larger "Robovan.”

Analysts said a lack of details about whether Tesla would plan to operate its fleeꦺt of robotaxis or sell them to customers, and the fact Tesla did not announce ไthe lower-cost model investors were hoping for, were among the concerns that drove the stock lower.

Shares of Tesla were down about 14% for the year through Wednesday's close.