If Tesla and SpaceX really do merge, is Musk building the next tech empire—or telling an even bigger story to the capital markets?
$TSLA Third-quarter revenue was $28.05 billion, while net income fell 43% year over year to $787 million. But automotive gross margin recovered to 18.1%, and free cash flow reached $1.53 billion. The catch is that improved cash flow was also partly due to capital expenditures coming in below expectations, so it cannot be equated with a full-scale business turnaround. Whether energy storage, FSD, and Robotaxi can take over as the next growth drivers after cars is key to further valuation gains.
$SPCX Third-quarter revenue was $14.58 billion, surging 161% year over year. Net income was $4.4 billion, and AI business revenue reached $7.56 billion, showing considerable momentum. However, AI computing requires massive investment, and it remains to be seen whether this rapid growth can translate into sustained profits.
The two companies have formed independent special committees of their boards to discuss a potential merger, but no deal terms have been reached. Musk has also made it clear that a merger is not a certainty.
I’m more focused on how resources would be integrated after a merger and on shareholder interests—not simply hyping the concept. Merger expectations could fuel stock-price volatility in the short term, but in the long run, performance still has to deliver. For $TSLA , stabilizing profits in the automotive business and producing tangible results in AI and robotics matter more than the merger story.
#股票财报季
$TSLA Third-quarter revenue was $28.05 billion, while net income fell 43% year over year to $787 million. But automotive gross margin recovered to 18.1%, and free cash flow reached $1.53 billion. The catch is that improved cash flow was also partly due to capital expenditures coming in below expectations, so it cannot be equated with a full-scale business turnaround. Whether energy storage, FSD, and Robotaxi can take over as the next growth drivers after cars is key to further valuation gains.
$SPCX Third-quarter revenue was $14.58 billion, surging 161% year over year. Net income was $4.4 billion, and AI business revenue reached $7.56 billion, showing considerable momentum. However, AI computing requires massive investment, and it remains to be seen whether this rapid growth can translate into sustained profits.
The two companies have formed independent special committees of their boards to discuss a potential merger, but no deal terms have been reached. Musk has also made it clear that a merger is not a certainty.
I’m more focused on how resources would be integrated after a merger and on shareholder interests—not simply hyping the concept. Merger expectations could fuel stock-price volatility in the short term, but in the long run, performance still has to deliver. For $TSLA , stabilizing profits in the automotive business and producing tangible results in AI and robotics matter more than the merger story.
#股票财报季