Tesla's Q3 profit drops 44 per cent from year earlier

Key points

• Tesla's net income for the latest quarter fell 44 per cent from a year earlier, to $US787 million. The electric vehicle maker's revenue was roughly flat at $US28 billion, slightly below analyst forecasts.
• Excluding certain items, earnings per share beat expectations. Free cash flow of $US1.5 billion surprised analysts, who had expected cash burn.
• Elon Musk said special committees at Tesla and SpaceX were discussing a possible combination, though many hurdles remain. Capital spending doubled to $US4.7 billion.