Tesla kept its Bitcoin holdings intact as Q3 earnings showed strong profit margins
Key receivers
During its Q3 2024 earnings call, Tesla will hold 11,509 BTC worth approximately $765 million. Tesla's Q3 earnings showed a gross margin of 19.8%, better than expected and an improvement over previous quarters.
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Tesla has released its third quarter earnings report, showing its strong financial performance while maintaining substantial Bitcoin holdings.
Analysts and investors have been particularly focused on the company's profit margins and whether Tesla has made any changes to its Bitcoin strategy following recent wallet activity. Despite the speculation, Tesla confirmed that its Bitcoin holdings remained unchanged.
As of the third quarter, Tesla continues to hold 11,509 BTC, valued at approximately $765 million. This follows a week of significant Bitcoin wallet activity that has led to speculation that Tesla may sell or move assets to Custodian.
Tesla's third quarter earnings report beat many analysts' expectations and delivered several surprises. The company posted a gross margin of 19.8 percent, an improvement of 18.0 percent from the second quarter.
However, Tesla's quarterly revenue came in at $25.1 billion, slightly lower than the estimate of $25.4 billion. Nevertheless, this represents 8% growth year-on-year, highlighting the company's strong global sales performance.
Earlier this month, Tesla's “We, the Robot” event generated a lot of excitement with the unveiling of its driverless CyberCar and other autonomous technologies. But, despite the excitement, investors and analysts have turned their attention to Tesla's core automobile business.
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