Tesla reported third-quarter non-GAAP earnings of $0.48 per share, surpassing analyst expectations of $0.45. Revenue remained flat year-over-year at $28.05 billion. Total gross margin increased to 19.6%, up from 18.0% in the same period last year.
Operating income declined by 56% to $718 million. This drop follows a 39% rise in operating expenses, which reached $4.78 billion due to increased R&D spending on AI and the Optimus humanoid robot. Revenue from regulatory credits fell by 73% to $113 million.
GAAP net income reached $787 million, including a $288 million unrealized gain from bitcoin holdings and a $142 million unrealized loss from a stake in SpaceX. Free cash flow for the quarter was $1.53 billion, with capital expenditures totaling $4.73 billion.
Energy storage and generation revenue decreased by 16% to $2.88 billion, despite a 10% rise in deployments to 13.7 gigawatt-hours. The company concluded the quarter with $45.4 billion in cash and investments.
Tokenized Tesla shares across platforms like xStocks, Binance, and Ondo are held by approximately 260,600 addresses, with a combined value of $138.8 million. Perpetual contracts on Hyperliquid and other exchanges tracked the stock's after-hours performance.
