Tesla’s Third Quarter Earnings Revealed: Bitcoin Status and Financial Insights

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Tesla’s Q3 2023 Earnings Report: Bitcoin Holdings Intact

In a major financial disclosure, Tesla, the electric automotive industry leader, unveiled its earnings report for the third quarter of 2023. This article presents an overview of the report’s key highlights and market implications.

Bitcoin Holdings Remain Unaltered Notably, Tesla’s substantial Bitcoin holdings remained untouched, with no buying or selling activity recorded during this period.

Revenue and Earnings

  1. Stagnant Revenue: The reported revenue for Q3 stood at $23.4 billion, falling short of the projected $24.06 billion.
  2. Earnings Per Share (EPS): The adjusted EPS for the quarter totaled 66 cents, which lagged behind the estimated 74 cents.

Gross Profit Margin Tesla’s gross profit margin in the third quarter was 17.9%, a slight dip from the expected 18%.

Vehicle Deliveries Tesla witnessed a 7% decline in vehicle deliveries for the third quarter, compared to the preceding three-month period. The company reiterated its commitment to achieving 1.8 million vehicle deliveries by the end of 2023.

Shareholder Interaction Tesla employs the Say Technologies online platform to curate and address questions from shareholders before the release of earnings reports.

Price Adjustments During the period ending in September 2023, Tesla implemented significant changes in its pricing strategy:

  1. Reduced prices for select electric vehicle models in both the U.S. and international markets.
  2. Lowered the pricing of its premium driver assistance software, known as the Full Self-Driving (FSD) option, or FSD Beta.

In conclusion, Tesla’s Q3 2023 earnings report revealed a mix of financial performance, unchanged Bitcoin holdings, and strategic pricing adjustments that reflect the dynamic landscape of the electric automotive industry.

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