Tesla Q3 Profit Drops 44% But Free Cash Flow Surges

Business Standard · business

Tesla's third-quarter net income fell 44% to $787 million, or 22 cents per share, compared to the previous year. However, the electric vehicle maker generated a significant $1.5 billion in free cash flow, exceeding analyst expectations amid substantial artificial intelligence investments. Revenue remained flat at $28 billion, slightly missing forecasts. Elon Musk also indicated that a potential merger between Tesla and SpaceX is being discussed by special committees at both companies, though significant hurdles remain.