Tesla Q3 GAAP Net Income Included $288 Million Unrealized Bitcoin Gain
Photo: TokenPost
Tesla's third-quarter GAAP net income included a $288 million unrealized gain tied to its Bitcoin (BTC) holdings. The company made no Bitcoin sales during the quarter and still held 11,509 BTC. An unrealized gain reflects an asset's recorded value before its owner sells it. The gain was part of Tesla's GAAP net income, without cash proceeds from a Bitcoin sale. Revenue reached $28.05 billion, almost unchanged from a year earlier. GAAP net income was $787 million, a 43% year-over-year decline, and operating income was $718 million, down 56%. Gross margin was 19.6%.
Source: TokenPost
