Tesla grows revenue 42%, but automotive margins decline

Tesla reported earnings after the bell, and the results sent the stock up about 2% after hours.

• Earnings per share (EPS): $2.27 (adjusted) vs $1.81 expected, according to Refinitiv
• Revenue: $16.93 billion, vs. $17.1 billion expected, according to Refinitiv

Automotive gross margin came in at 27.9%, down from 32.9% last quarter and 28.4% a year ago, impacted by inflation and more competition for battery cells and other components that go into…