Tesla Made $331 Million Profit in Q3 2020
Freeman writes:
https://arstechnica.com/cars/2020/10/tesla-made-331-million-profit-in-q3-2020/
On Wednesday, Tesla published its financial results for the third quarter of 2020. The company says it ended Q3 2020 with a GAAP profit of $331 million, the fifth profitable quarter in a row for the US automaker. Despite the pandemic, it's a strong improvement on Q3 2019.
Tesla ends Q3 2020 with a positive free cash flow of $1.4 billion and $14.5 billion in cash and cash equivalents. Tesla says in its presentation to investors that Q3 was marked by substantial growth in vehicle deliveries, which counteracted a decrease in the average selling price as the company sells fewer and fewer Models S and X and sells more and more Models 3 and Y. Regulatory credits accounted for $397 million of its revenues, and the company had to pay out $280 million in stock-based compensation for CEO Elon Musk after the company reached certain milestones.
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