Tesla Q3 profit falls 43%, Bitcoin holdings add $288M
- —Operating income fell 56% to $718 million; operating margin narrowed to 2.6% from 5.8%
- —Unrealized Bitcoin gain: $288 million pre-tax, $224 million after tax
- —SpaceX equity investment loss: $142 million pre-tax, $108 million after tax
- —Free cash flow dropped 62% to $1.53 billion; deliveries fell 2.1% to 486,532 vehicles
Why it matters: The report shows how fair-value Bitcoin accounting moves a public company's earnings without any buying or selling of the asset.
Source: The Crypto Times