The one-page fundamentals report for every US stock

Impact 4 · 21 Oct, 5:51 PM

Tesla beat Q3 earnings expectations with adjusted EPS $0.48 and EBITDA $3.90B, while revenue was $28.05B vs $28.13B expected. Free cash flow came in at $1.53B and capex $4.732B, far better than a hoped-for -$4.92B and far below the $7.96B consensus; full-year capex guidance was cut to $20B from $25B. Management attributed savings to operational cash flow funding, targeting Optimus production lines, AI compute, Cybercab ramp, and the Terafab chip plant with SpaceX. Optimus began production at Fremont; Musk warned it will take about a year to reach 1 million annual units. Tesla also aims for 400 MW AI training compute and reported 1.74M active FSD subscriptions. Regional demand varied, with US tax credits influencing volumes and regulatory questions around Cybercab self-certification. A new Roadster was unveiled, with limited immediate commercial impact.

Impact 4 · 21 Oct, 5:13 PM

Tesla posted Q3 revenue of $28.0 billion (vs. $28.3B expected) and adjusted EPS of $0.48 (beat by $0.03) with a 2% drop in vehicle deliveries. Adjusted net income fell 4% to $1.7B; operating cash flow was $6.3B and free cash flow $1.5B. Capital spending surged 110% to $4.7B as the company intensifies AI/robotics efforts, including the Cybercab robotaxi, humanoid Optimus, and in-house chip initiatives under Terafab in collaboration with SpaceX. Tesla reiterated plans for more than $25B in capex for full-year 2026, with spending rising over the next two to three years. The company also highlighted capacity expansion in superintelligence compute, battery materials, and semiconductor manufacturing, while exploring potential SpaceX-Tesla merger terrain. After-hours stock trades flat; management expects software, AI, and fleet profits to complement hardware profits over time, with broader investor focus on margins and capex efficiency.

Impact 4 · 21 Oct, 4:41 PM

Tesla’s Q3 revenue held steady near $28 billion while revenue dipped less than 1%; capex reached $4.7 billion, well below expectations of $7.8 billion. Net income dropped 43% to $787 million. The company advanced AI-driven bets with initial Optimus humanoid production, a launched robotaxi service in Austin, and emerging energy storage plans, while signaling ongoing manufacturing challenges. Tesla also began production of the Semi and teased a flying Roadster. Backlog hit record levels due to battery constraints, though leadership said battery supply is improving and aims for 5 million vehicles annually by 2030. Investors are watching heavy AI-related spend and potential strategic moves, including a SpaceX-Tesla merger discussion, even as Musk notes he cannot fully participate yet sees it as a “good idea.” The stock moved higher after hours.

Impact 4 · 21 Oct, 4:07 PM

Bank of America says Alphabet may spend about $300 billion on capital expenditures in 2027 to fuel AI data centers and custom TPUs, signaling a heavy, cash-intensive push that could strain free cash flow despite rising Cloud revenue. While Google’s Search revenue growth is expected to slow, Cloud growth accelerates, but the overall earnings trajectory hinges on whether AI-driven services can sustain margins. BoA warns that large CapEx could outpace cash generation, potentially weighing on returns even as Google expands AI infrastructure and cloud offerings. The note also highlights Berkshire Hathaway’s stake and upcoming Alphabet results on Oct 28 as key near-term checks for investors and the sustainability of the AI investments’ payback. A looming question remains: can AI ambitions be financed without disrupting the core advertising business’s profitability?