Children using advanced hybrid closed-loop insulin pumps achieved better glucose control, yet most failed to follow dietary and exercise guidelines, highlighting that technology alone cannot replace healthy lifestyle habits in…
Elizabeth Olsen knows the type of projects she wants to be part of, and she revealed she will not sign onto a studio movie without a guaranteed theatrical release.
“If a movie is made independently and only sells to a streamer, then…
Kirkland & Ellis advised Avride, a leading developer of autonomous driving technologies, in connection with up to $375 million in strategic investments and commercial commitments from Uber Technologies, Inc. and Nebius Group. The transaction builds on Avride’s commercial partnership with Uber, following the signing of a multi-year strategic agreement in 2024. The new funding will enable Avride to accelerate the growth of its fleet, support AI-driven product development and expand its offering into new geographies.
Read the transaction press release
The Kirkland team included corporate lawyers John Kaercher, Martha Todd, Jess Lepper, Brett Mele and Pi Praveen; technology & IP transactions lawyers Shellie Freedman and Abby O’Neill; international trade & national security lawyers Billy Phalen and Ellie Bacon; and capital markets lawyer Jennifer Wu.
The Kirkland team worked closely with Alex Tarnow, Avride’s general counsel, on the transaction.
This request seems a bit unusual, so we need to confirm that you’re human. Please press and hold the button until it turns completely green. Thank you for your cooperation!
NEW YORK — NEW YORK (AP) — Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply.
Third-quarter earnings at Tesla fell to $1.4 billion, or 39 cents a share, from $2.2 billion, or 62 cents a share, a year earlier. That marked the fourth quarter in a row that profit dropped. Excluding certain charges, earning were 50 cents per share, down from 72 cents per share a year ago and below the 56 cents forecast by Wall Street analysts.
Revenue rose to $28.1 billion from $25.2 billion in the June through September period, beating Wall Street’s forecast.
Tesla shares fell 1% to $434.82 in after-hours trading
Financial analysts have been upping their estimates of revenue since Musk announced earlier this month that sales of electric vehicles, one part of the multipronged business, rose 7% in the quarter after plunging for most of the year.
The sales were boosted by customers rushing to take advantage of a $7,500 federal tax credit for those EV purchases before it expired on Oct. 1, possibly stealing sales from the current quarter.
Tesla was also helped by surging sales from its separate battery storage business, but the EVs still make up much of the overall revenue figures.
A much watched measure, gross margins, hit 18%, the highest for this year but still down from the third quarter a year ago. The figure, which shows how much money Tesla makes after paying staff, raw materials and other basic expenses, are also down from 25% four years ago as the company offers discounts and other incentives to fight back against rival EV makers that have been stealing market share.
Musk was predicting 20% to 30% sales growth for 2025 at this time last year, but it hasn’t turned out that way.
In addition to alienating potential customers with his embrace of right-wing politicians, sparking boycotts in key markets here and abroad, he also has failed to shake up his vehicle lineup with a new, exciting model or introduce a substantially cheaper car to appeal to the mass market.
___
An earlier version of this story incorrectly reported that Tesla’s profit had dropped for three straight quarters.
Producer.com The spread of bird flu has raised concerns among governments and the poultry industry after it killed or led to the culling of hundreds of millions of poultry in recent years, disrupting…