Tesla made a profit of 80 million USD from Bitcoin in Q3

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Tesla continues to hold 11,509 BTC, with a total value of approximately 1.35 billion USD at the end of Q3 — although this figure is currently somewhat lower due to market price fluctuations.

According to the financial report, the strong surge in Bitcoin prices in Q3 helped Tesla record a profit of approximately 80 million USD from its digital asset portfolio. However, this profit only represents a small portion compared to the adjusted EBITDA of 4.3 billion USD and cash and cash equivalents amounting to 41.6 billion USD.

Thanks to strong business results, Tesla reported third-quarter revenue of 28.1 billion USD, exceeding analysts' forecasts of 26.36 billion USD. However, the adjusted earnings per share (EPS) reached 0.50 USD — slightly lower than the expected 0.54 USD.

The company also notes that, according to the new accounting regulations of FASB (Financial Accounting Standards Board of the United States), Tesla and businesses holding Bitcoin will have to recognize gains or losses from this digital asset on a quarterly basis, rather than only being able to record a reduction when the price of Bitcoin hits the lowest point during the period as before.

Tesla stock (TSLA) dipped slightly in after-hours trading, currently trading around 434 USD.

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