Electric automotive giant Tesla, which holds a large amount of Bitcoin, published its third quarter 2023 earnings report.
- There was no change in the company's Bitcoin holdings. The company did not buy or sell BTC.
- Tesla reported revenue of $23.4 billion, below the $24.06 billion forecast.
- The company's adjusted earnings per share (EPS) for the quarter came in at 66 cents, below the estimate of 74 cents.
- Additionally, Tesla's gross profit margin in the third quarter was 17.9%, slightly below the estimated 18%.
Earlier this month, Tesla reported a 7% decline in vehicle deliveries in the third quarter compared to the previous three-month period. The company reiterated at the time that it was targeting 1.8 million vehicle deliveries for the full year in 2023.
Tesla uses an online platform called Say Technologies to select questions from shareholders to answer before earnings reports.
During the period ending in September 2023, Tesla also reduced the prices of some electric vehicle models in the U.S. and outside the U.S. and reduced the price of its premium driver assistance software marketed as the Full Self-Driving (or FSD) option, or FSD Beta.
*This is not investment advice.