Tesla Presented Its Q3 Financial Results


The third quarter earnings report was released by Elon Musk’s Tesla, which has a substantial Bitcoin holding.

Tesla, the electric automaker, released their financial report for the third quarter of 2023, and it revealed that the company possesses a significant quantity of Bitcoin.

The number of Bitcoins owned by the firm remained unchanged. The business did not trade in bitcoins. The $23.4 billion in revenue that Tesla announced is less than the $24.06 billion that was expected.

Quarterly adjusted earnings per share (EPS) of 66 cents for the corporation fell short of the consensus forecast of 74 cents.

As an added note, Tesla’s third-quarter gross profit margin of 17.9% was below the expected 18%. In a report released earlier this month, Tesla said that third-quarter car deliveries were down 7% year over year. The corporation reaffirmed its goal of 1.8 million annual car sales in 2023.

Before releasing earnings results, Tesla selects questions from shareholders using an online platform called Say Technologies.

During the year ending in September 2023, Tesla lowered the cost of its premium driver assistance software, known as the Full Self-Driving (or FSD) option, as well as the price of its FSD Beta version.

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