H
trending
H
HOYONEWS
HomeBusinessTechnologySportPolitics
Others
  • Food
  • Culture
  • Society
Contact
Home
Business
Technology
Sport
Politics

Food

Culture

Society

Contact
Facebook page
H
HOYONEWS

Company

business
technology
sport
politics
food
culture
society

CONTACT

EMAILmukum.sherma@gmail.com
© 2025 Hoyonews™. All Rights Reserved.
Facebook page

Tesla reports steep drop in profits despite US rush to buy electric vehicles

about 24 hours ago
A picture


Despite record vehicle sales, Tesla saw a precipitous drop in profit in its most recent quarter.A rush to buy electric vehicles before a US tax credit for them disappears had boosted Tesla’s flagging sales, leading to the automaker exceeding some of Wall Street’s projections in its most recent financial quarter.Yet the company failed to meet earnings expectations and its stock fell in after-hours trading.Tesla reported third-quarter earnings of $0.50 a share on Wednesday after market close, less than the $0.

54 that market analysts predicted.The automaker exceeded Wall Street’s expectations of $26.457bn in revenue.Its operating income was $1.62bn against expectations of $1.

65bn.It also reported a net income of $1.4bn, down from $2.2bn, a drop of 37% in its profits.Tesla’s deliveries in the third quarter surged from earlier in the year, an increase that analysts attributed to consumers attempting to lock in electric vehicle tax credits that expired at the end of last month.

The loss of EV credits as a result of Donald Trump’s One Big Beautiful Bill Act was a factor in the public breakup between Musk and the president and has continued to influence the company’s sales forecasts,The company made numerous optimistic mentions of its AI software and commitment to expand its autonomous driving technology in a press release on the results, while also citing “shifting trade, tariff and fiscal policy” as challenges it is navigating,“No one can do what we can do with real-world AI,” Musk claimed during an investor call,He also claimed that Tesla’s Optimus robots, which received only a fleeting mention in the earnings report, had the potential to become “the biggest product of all time”,“We believe, with Optimus and self-driving, that you can actually create a world with no poverty,” Musk added.

He also referenced his proposed $1tn pay package, which he claimed would give him a defense against being “ousted” once Tesla built a “robot army”.The earnings report comes at a sensitive time for Tesla and Musk, as the CEO is seeking investor approval for that unprecedented $1tn pay package in a vote next month.The package is dependent on Tesla reaching several lofty milestones, including achieving an $8.5tn market cap over the next 10 years.Despite the world’s richest person still commanding a legion of Tesla fanboys and investors eager to appease him, two proxy advisory firms have so far recommended against approving the exorbitant pay package.

Glass Lewis and Institutional Shareholder Services (ISS), who provide guidance on how shareholders should vote, stated in recent days that they advised voting no on the proposed trillion-dollar compensation plan,On Wednesday’s call with investors, Musk made several claims about the future of Tesla’s robotaxi ride-share service,He told investors that the robotaxi product, which involves a safety driver riding in the autonomous car in case of emergency, would soon remove drivers from cars in the Austin rollout of the service,The US’s main transportation safety regulator announced in recent weeks that it is investigating reports of traffic safety violations and crashes involving Tesla’s Full Self Driving technology,Musk has also insulted Sean Duffy, the US transportation secretary, this week in a series of posts that included calling him “Sean Dummy” and reposting calls for him to be removed from his post.

Duffy, who is also acting head of Nasa, stated on Monday that he would reopen the bidding for contracts related to the space agency’s Artemis moon mission because Musk’s SpaceX rocket company had fallen behind on its timelines for the project.Sign up to TechScapeA weekly dive in to how technology is shaping our livesafter newsletter promotionShareholders are set to vote on Musk’s $1tn pay package during an annual company meeting on 6 November.Both Tesla and Musk have lashed out at criticism of the package, with the company calling the ISS recommendation against the proposal an “unfounded and nonsensical recommendation” in a lengthy post on X.Musk additionally implied in a post on X that he could leave the company if not granted the pay package, and on the call with investors accused ISS and Glass Lewis of “corporate terrorism”.Tesla had a tumultuous year that saw heightened competition, a loss of key tax credits and chaotic leadership from Musk himself.

The company reported falling profits and revenue last quarter.Musk’s political activities, including taking a lead role in the Trump administration and promoting far-right causes, also led to widespread backlash and anti-Tesla sentiment as stock prices fell at the start of the year.Tesla’s shares have rallied vigorously over the past six months, however, while Musk has heavily promoted autonomous taxis and robotics as a source of future revenue.The CEO claimed last month that Tesla’s Optimus robot, a humanoid machine that has yet to go into mass production and is not available for purchase, will one day account for 80% of the company’s revenue.He has made similarly grandiose statements about millions of robotaxis filling cities around the world, something he has promised for years while continually pushing back the timeline of when it would become a reality.

Tesla also debuted a long-promised, cheaper sedan called the Model Y earlier this month in a bid to increase slumping sales.The new line of sedans received criticism from some analysts over its starting prices of $39,990 and $36,990 – significantly higher than Chinese low-cost competitors.Tesla’s stock price immediately fell following the rollout.The company’s other new model, the Cybertruck, released in 2024, has failed to make a meaningful contribution to overall sales.
politicsSee all
A picture

Reform’s only Black branch chair quits over ‘harmful’ migration debate

The only Black branch chair of Reform UK has left the rightwing populist party, saying the tone of Britain’s migration debate is “doing more harm than good”.Neville Watson, from north London, told the Guardian he had not experienced any racism in Reform, where there were “a lot of good people”. However, the former leader of the party’s Enfield branch said he was alarmed by the growing influence of Christian nationalism – the hard-right movement that blends politics with fundamentalism.Watson added that he was dismayed by rising levels of Islamophobia, feared some people within the party were “sympathetic” to the far-right activist Tommy Robinson, and was concerned British politics was “losing its compassion” as parties vied to compete with Reform.The son of Jamaican, Windrush-generation parents, Watson,whose professional background is in social enterprise, youth work and special educational needs, played a key role in welcoming voters from London’s diverse communities into the party

about 12 hours ago
A picture

Jess Phillips has ‘full backing’ of PM over grooming gangs inquiry, says minister

A minister has said the government has “full confidence” in Jess Phillips after four abuse survivors called for her resignation as a condition for their participation in the national grooming gangs inquiry.The crisis engulfing the inquiry deepened on Wednesday as the four survivors accused Phillips of “betrayal” and said she was “unfit to oversee a process that requires survivors to trust the government”.But a government minister insisted on Thursday that Phillips would “stay in post” as safeguarding minister, saying she was “a lifelong advocate and champion for young girls who’ve been abused”.Josh MacAlister, the children’s minister, said Phillips had the “full backing of the prime minister and the home secretary”.“She has already shown that she is properly engaging with the survivor community,” he told Sky News

about 15 hours ago
A picture

Shabana Mahmood says damning report shows Home Office ‘not fit for purpose’

Shabana Mahmood has said the Home Office is “not yet fit for purpose” after the release of a damning report that was kept secret for years.The review, written under the previous government, uncovered a series of perceived shortcomings including a “culture of defeatism” on immigration, a lack of trust from other departments, and “several confused and conflicting systems”.Written by the former Home Office special adviser Nick Timothy in 2023, it has been released after a two-year legal battle by the Times.Responding to the revelations, Mahmood, who took over as home secretary from Yvette Cooper in September, vowed to overhaul the department, which she said had been “set up to fail”.Timothy, who was given access to the department during a two-month review, found an excessively “defensive approach” among the Home Office’s lawyers and a reluctance among senior officials to tell “difficult truths” to ministers

1 day ago
A picture

Police take no further action against men arrested for Trump Windsor projections

No further action will be taken against four men arrested in connection with projecting an image of Donald Trump and the convicted sex offender Jeffrey Epstein on to Windsor Castle, police said.The stunt during Trump’s unprecedented second state visit on 16 September by the political campaign group Led By Donkeys attempted to draw attention to the US president’s long friendship with Epstein.A letter the US president allegedly sent to Epstein was also projected on to the castle, along with pictures of Epstein’s victims, news clips about the case and police reports.A 60-year-old man from East Sussex, a 37-year-old man from Kent, and two men from London aged 36 and 50 were arrested on suspicion of “offences including malicious communications and public nuisance”.But on Wednesday, Thames Valley police said the investigation had concluded and no further action would be taken

1 day ago
A picture

Keir Starmer prepares to miss key green target in effort to keep energy bills down

Ministers are considering dropping one of their central green pledges in an effort to keep energy bills down, sources have told the Guardian.Government insiders say Keir Starmer is prepared to miss his own target of removing almost all fossil fuels from the UK’s electricity supply by 2030 if doing so proves much more expensive than building gas power instead.The issue will come to a head within weeks as Ed Miliband, the energy secretary, decides how much renewable energy to commission for the next few years. Allies say Miliband is willing to buy less than experts say is needed to hit the 2030 target, if paying for them would push energy bills much higher than their current levels.Concern is growing in Downing Street that the cost of living is fuelling the rise of Reform UK, which leads national polls and is predicted to take the Welsh Senedd seat of Caerphilly in a byelection this week

1 day ago
A picture

Attacks on UK cabinet secretary ‘stink of political cowardice’, union leader says

Attacks on the UK’s cabinet secretary “stink of political cowardice”, the head of the senior civil servants’ union has said as concerns mount inside the government about his performance.The general secretary of the FDA, Dave Penman, said anonymous criticism of Chris Wormald was “hugely damaging” to the government and its prospects of recruiting talented officials to top jobs.Keir Starmer chose Wormald from a shortlist of four in December to lead the civil service, but within months people inside the prime minister’s circle began raising concerns about his performance.The Guardian reported in July that No 10 had “buyer’s remorse” about the appointment, with Starmer’s aides viewing Wormald as “insipid” and entrenched in the status quo. The Times reported this week that he was unlikely to survive in the job beyond January

1 day ago
sportSee all
A picture

Tour de France unveils 2026 route with double Alpe d’Huez for men and Ventoux debut for women

about 11 hours ago
A picture

Australia beat India by two wickets in the second men’s one-day international – as it happened

about 12 hours ago
A picture

England win series after washout in final New Zealand T20 but Brook left frustrated

about 12 hours ago
A picture

New Zealand v England: final men’s T20 abandoned – as it didn’t happen

about 14 hours ago
A picture

The Ravens’ doomsday clock inches towards midnight. Will their season survive?

about 14 hours ago
A picture

From monkey elixir to fentanyl: Tyler Skaggs’s death is merely a chapter in baseball’s 136-year drug fix

about 14 hours ago