AustinTesla’s net profit fell 43% to $787 million.
Operating margin fell to 2.6% from 5.8%, while capital spending more than doubled to $4.7 billion.
Car revenue fell 3%, storage and solar revenue fell 16%, and regulatory-credit sales dropped to $113 million from $417 million.
Services and other revenue, including Supercharger use, grew by a third to $4.6 billion.
Musk says Tesla and SpaceX formed committees to discuss a merger combining more than 30,000 bitcoin.
How each outlet framed it
- Ars Technica leans critical
- isolates the storage business's 16% revenue drop and capex up 110% as the margin driver
- CoinDesk
Sources: Ars Technica, CoinDesk