Tesla stock sinks today after earnings miss. Elon Musk seems more focused on building a ‘robot army’

Tesla's third-quarter earnings revealed $28.1 billion in revenue, a 12% year-over-year increase, primarily driven by automotive sales. Despite this growth, Tesla missed Wall Street's revenue and earnings per share expectations. Net income and operating income both experienced significant year-over-year declines, attributed to increased operating expenses and higher vehicle costs. Tesla shares dropped in premarket trading following the report, although the stock remains up year-to-date. Elon Musk emphasized AI, robotaxis, and his humanoid robot plans during the earnings call. The call concluded with Musk pleading for investor support for his $1 trillion compensation package. This package, if approved, would provide him with more voting control and influence within Tesla. Musk criticized proxy firms advising against the package, expressing concerns about potentially being ousted. The additional shares are crucial for Musk's long-term vision of leading Tesla, particularly his robotics endeavors.