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#Quarterly ProfitTopic

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PerthNow Local· This weekBusiness

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

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.

Tesla's Q3 profit drops 44 per cent from year earlier
Michael West Media· This weekTechnology

Tesla and SpaceX explore merger, amid huge profit surge

Elon Musk says Tesla and SpaceX are exploring a possible merger, with special committees at both companies examining the idea. Musk said he is not involved in the talks because of potential conflicts of interest. He added that any deal would need approval from at least 50 per cent of Tesla shareholders. SpaceX posted net income of $US4.4 billion last quarter, compared with a loss of around $US1 billion a year earlier, driven by its Starlink satellite internet service and AI data centres. Revenue rose to $US14.58 billion, above analysts' forecasts.

Tesla and SpaceX explore merger, amid huge profit surge
PerthNow Local· This weekBusiness

Netflix revenue and profit grows in third quarter

Netflix has reported third-quarter profit above Wall Street's expectations, but its shares fell after it lowered its advertising sales guidance. The streaming company earned $US3.66 billion, or 87 cents per share, for the July to September period, up 44 per cent from a year earlier. Revenue rose 12 per cent to $US12.87 billion. Netflix also announced plans to cut about six per cent of its workforce and replace its chief content officer, Bela Bajaria, with Peter Rice. Shares fell 4.1 per cent after hours.

Netflix revenue and profit grows in third quarter

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