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At a glance
Tesla's automotive revenue declined 3% from a year earlier, despite the company beating earnings and sales expectations
What the briefing reports
Tesla has reported flat revenue for the third quarter, with automotive revenue declining 3% from a year earlier. According to the company's earnings report, revenue was down slightly from the previous year, while net income attributable to common shareholders plummeted 29%.
The decline in automotive revenue was partially offset by an increase in other areas, such as active FSD subscriptions, which rose 67% from a year earlier. In related news, Elon Musk has suggested that a merger between Tesla and his other company, SpaceX, would be a good idea, although it is unclear what impact this could have on the company's financial performance.
As the company moves forward, it will be important to watch how these developments affect Tesla's bottom line, particularly in light of significant changes in capital expenditures and free cash flow, which more than doubled and plunged 62% year over year, respectively.
Cited sources
Updates and corrections
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