Tesla Retains 11,509 Bitcoin in Q3, Posting $288 Million Unrealized Gain

Tesla Inc. held its entire 11,509 Bitcoin stash through the third quarter, generating a $288 million unrealized gain under GAAP accounting as its digital assets rose 42% to $962 million. The paper gain contributed to third-quarter GAAP net income of $787 million, which dropped 43% year-over-year. Operating income sank 56% to $718 million, while revenue was flat at $28.05 billion. Despite operational declines, adjusted EPS reached $0.48, beating expectations, and free cash flow totaled $1.53 billion. Bitcoin traded near $82,859 as Tesla shares slipped 3.72% after hours.