Tesla reported $1.53 billion in third-quarter free cash flow, versus analysts’ expected $4.92 billion cash burn, as capital spending came in below estimates. Revenue was $28.05 billion, and deliveries reached 486,532 vehicles.
Tesla reported $1.53 billion in free cash flow for the quarter ended September 30, compared with analysts’ expectation of a $4.92 billion cash burn. Capital expenditures totaled $4.73 billion, below the roughly $7.5 billion estimate, down from $5.79 billion in the prior quarter and up from $2.25 billion a year earlier.
Revenue was $28.05 billion, above analysts’ average estimate of $27.88 billion and slightly below the $28.10 billion recorded a year earlier. Tesla delivered 486,532 vehicles, exceeding expectations of about 461,100, though deliveries were down about 2% from a year earlier. Production was 464,391 vehicles, more than 22,000 below deliveries for a second straight quarter.
Tesla’s energy unit has benefited from demand for grid-scale batteries, while investors have sought clearer evidence that its self-driving and robotics efforts can become commercial businesses. CEO Elon Musk said a merger with SpaceX was a “good idea,” and the companies formed special committees to discuss a deal.
