Summary Highlights
- Tesla has maintained its holdings of 11,509 BTC, worth around $765 million, in its Q3 2024 earnings announcement.
- The company reported a Q3 gross margin of 19.8%, surpassing projections and showing progress compared to earlier quarters.
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Tesla has published its third-quarter financial report, highlighting robust results while maintaining its significant Bitcoin reserves.
Analysts and investors closely monitored the company’s profit margins and any potential shifts in Tesla’s Bitcoin strategy amidst recent wallet activities. Despite some conjecture, Tesla verified that its Bitcoin assets remain intact.
As of the third quarter, Tesla still holds 11,509 BTC, estimated to be worth about $765 million, following a period of notable Bitcoin wallet movements that sparked speculation about potential asset sales or transfers to custodial accounts.
The earnings report for Q3 revealed several positive surprises that exceeded many market expectations as the company reported a gross margin of 19.8%, up from 18.0% in Q2.
However, Tesla’s revenues for the quarter reached $25.1 billion, slightly below the anticipated $25.4 billion, yet still representing an 8% year-over-year growth, highlighting strong sales across their global markets.
This month, there was significant anticipation around Tesla’s “We, Robot” event, which showcased its driverless Cybercab and advancements in autonomous technologies. Nonetheless, investor interest has quickly shifted back to Tesla’s vehicle production and sales core business.
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