Tesla (TSLA) reported Q3 earnings results on Wednesday after the close, and while shares initially had a somewhat sanguine response to the company's weaker-than-expected results, they ultimately fell sharply on the day in Thursday's trading. TSLA's full-day percentage change in response to earnings ended up clocking in at -9.3%.

What's remarkable to us is that this was the third earnings report in a row where TSLA shares fell 9% in response to the news. You can see TSLA's quarterly results going back to the start of 2020 in the snapshot from our Earnings Explorer below where we've put a red box over the stock's last three full-day earnings moves:

(Click on image to enlarge)

Below is a look at TSLA's price chart since early 2023 with its last three earnings reaction days highlighted.

Ironically, even though shares have fallen 9% on Tesla's last three earnings reaction days dating back to April 20th, the stock is actually up 21% over the entire period since the close on April 19th.

Individual stocks have four quarterly earnings reaction days per year, and while these days are typically much more volatile than the average trading day, as the action in TSLA shows, they're not everything.

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