Tesla didn’t sell a single Bitcoin in Q3.
Its financial report showed revenue of $28.05 billion for the third quarter, essentially flat year over year. Adjusted earnings per share were $0.48, above expectations of $0.45. However, GAAP net income fell 43% year over year to $787 million, operating income fell 56% to $718 million, gross margin was 19.6%, and free cash flow was $1.53 billion.
What crypto readers should pay closer attention to: Tesla sold no Bitcoin during the quarter and still holds 11,509 BTC. Its Bitcoin holdings generated $288 million in unrealized gains, which were included in GAAP net income.
Two scenarios to watch: First, if Tesla continues to sell none next quarter, the HODL narrative will grow stronger. Second, if cash flow comes under pressure, it could be forced to reduce its holdings, causing earnings to fluctuate with Bitcoin’s price in either direction.
Which signal are you watching more closely: whether Tesla continues to sell none next quarter, or changes in cash flow?
Source: PANews
$BTC
Image 1: Tesla sold no Bitcoin in Q3: 11,509 BTC held, $288 million in unrealized gains included in earnings · Key News
Image source: https://www.panewslab.com/zh/articles/01a16022-aa61-7566-acd8-584140f95ac3
Its financial report showed revenue of $28.05 billion for the third quarter, essentially flat year over year. Adjusted earnings per share were $0.48, above expectations of $0.45. However, GAAP net income fell 43% year over year to $787 million, operating income fell 56% to $718 million, gross margin was 19.6%, and free cash flow was $1.53 billion.
What crypto readers should pay closer attention to: Tesla sold no Bitcoin during the quarter and still holds 11,509 BTC. Its Bitcoin holdings generated $288 million in unrealized gains, which were included in GAAP net income.
Two scenarios to watch: First, if Tesla continues to sell none next quarter, the HODL narrative will grow stronger. Second, if cash flow comes under pressure, it could be forced to reduce its holdings, causing earnings to fluctuate with Bitcoin’s price in either direction.
Which signal are you watching more closely: whether Tesla continues to sell none next quarter, or changes in cash flow?
Source: PANews
$BTC
Image 1: Tesla sold no Bitcoin in Q3: 11,509 BTC held, $288 million in unrealized gains included in earnings · Key News
Image source: https://www.panewslab.com/zh/articles/01a16022-aa61-7566-acd8-584140f95ac3