Add as a preferred source on GoogleTesla Held 11,509 Bitcoin Through Q3 as GAAP Profit Fell 43%
Revenue was $28.05 billion, and adjusted EPS topped the $0.45 estimate at $0.48. GAAP net income included $288 million in unrealized Bitcoin gains.
Tesla ended the third quarter with its 11,509 Bitcoin (BTC) holdings intact, while its latest results showed lower GAAP profit even as adjusted earnings per share topped the estimate.
Revenue came to $28.05 billion, nearly unchanged from a year earlier. Adjusted earnings per share were $0.48, above the $0.45 estimate. GAAP net income fell 43% to $787 million, while operating income dropped 56% to $718 million. Tesla reported a 19.6% gross margin.
Free cash flow totaled $1.53 billion, compared with an earlier forecast of negative $4.921 billion. Tesla’s GAAP net income included $288 million in unrealized gains on its Bitcoin holdings. The company made no Bitcoin sales during the quarter and ended the period with the same 11,509 BTC balance.
The quarter paired nearly flat revenue with lower GAAP and operating earnings, while adjusted EPS and free cash flow exceeded expectations.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.