CLOSE: Tesla ran 3.4% into its own report 🟢
Tesla closed up 3.4% at $386.47, then put out its Q3 numbers right after the bell. 🚗
Revenue $28.05B, flat on last year. Profit per share $0.48, a few cents above the Street number, which is the part the headlines will run with. The line I'd actually read is operating income: $718M, down 56% from a year ago, a 2.6% operating margin on a $28B quarter. Free cash flow $1.53B. Cash still coming in.
Stock ran into the print. The quarter itself is thinner than the beat sounds. Meta's report is out tonight too.
S&P 500 7,757, +0.6% 📊
Nasdaq 26,703, +1.05%
Dow 52,856, +0.7%
Not financial advice, just my read.
