Tesla did not sell Bitcoin, third-quarter profits surged, stock price skyrocketed by 12%

Tesla announced its third-quarter financial report this morning, with a year-on-year increase in vehicle deliveries reaching a record high for the third quarter. The gross profit margin rose to 19.8%, and the operating margin increased to 10.8%. The inventory value of Bitcoin remains unchanged at $184 million.

Tesla Sees Significant Profit Increase in Q3

Tesla's gross margin in Q3 rose to 19.8%, with an operating margin increasing to 10.8%, resulting in an adjusted earnings per share (EPS) of $0.72.

In Q3, Tesla delivered 462,890 vehicles, a 6.4% increase from the previous quarter, surpassing last year's 435,059 electric vehicles.

The AI training computing power in Q3 increased by over 75%, with the Cybertruck becoming the third best-selling electric vehicle in the U.S., following Model Y and Model 3.

More Affordable Electric Vehicles to be Launched in First Half of 2025

Due to reduced costs in raw materials, shipping, and tariffs, Tesla has lowered the selling cost per vehicle to the lowest level ever at around $35,100.

To further accelerate the transition to sustainable energy worldwide, Tesla aims to make electric vehicles affordable to everyone, including making the total cost of ownership per mile competitive with all forms of transportation. Tesla plans to launch more affordable electric vehicles in the first half of next year, with Musk stating that with incentives, the price of electric vehicles will be below $30,000, approximately NT$960,000, a key threshold.

Note: Regulatory credits are incentives established by the government to encourage automakers to produce and sell low-emission or zero-emission vehicles. These credits help automakers meet government-set emission standards. If a company produces low-emission or zero-emission vehicles beyond the standard requirements, it earns excess regulatory credits, which can be sold to other automakers that do not meet the standards. As a major electric vehicle manufacturer, Tesla often has surplus regulatory credits and sells them to other automakers needing to meet emission standards, thereby generating additional income.

Tesla Did Not Sell Bitcoin

Blockchain analysis firm Arkham Research tracked that Tesla transferred 11,509 bitcoins to a new address last week, but it believes that Tesla merely conducted a wallet transfer, and the bitcoins still belong to Tesla.

After purchasing 48,000 bitcoins in 2021, Tesla sold some in Q1 2021 and Q2 2022, but there have been no further changes. According to the financial statements, Tesla's inventory value of bitcoins remains at $184 million, unchanged.

Note: The financial data is based on the end of September, and Tesla did not specifically mention Bitcoin in its financial report.

Tesla Stock Surges 12%

Fueled by the financial report, Tesla's stock finally recovered from the slump after "We, Robot," surging over 12% in after-hours trading, although its performance this year still lags behind the overall market.

Tesla's earnings release disappointed investors, causing TSLA stock to plummet over 8%.