Tesla Held 11,509 Bitcoin Through Q3 as GAAP Profit Fell 43%

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.