Tesla earnings discussion, new BYD Seagull, Mustang Mach-E update, and more

What we're going to talk about today is primarily news that came out of the disloyal earnings this week that dominated the news cycle as usual, especially ahead of...

What looks like now pretty clear is going to be a SpaceX merger with Tesla.

Boards on both sides this week announced that they put a committee together to... explore whatever Elon Musk is going to want to do because that's what's going to happen at the end of the day.

But there's a lot of things that need to happen to make that official because we're talking about the biggest merger of all time.

It's a two separate trillion dollar company, probably a total of $3 trillion.

And yeah, it's going to be a mess.

But They are starting, at least it's pretty clear that they want a strong footing on this.

Earlier this week, SpaceX had very strong earnings basically on the back of their NeoCloud kind of effort of selling compute to Google and Tropic and others.

And Tesla also had... pretty good earnings at face value, which is just a speciality.

When you first glance at it, you're like, man, this is actually pretty strong.

By that, I mean pretty much on expectation.

The revenue was... 28.06, which is a little bit down, but basically flat from last year.

And the expectation was 28.24 billion.

So it's just a little bit below expectation.

And the other way around of expectation of 0.45 cents per share for the earnings.

And it came at just 48.

So, you know, very, very close, basically on expectation.

Now, where things got a little bit weirder is that they actually had positive cash flow of over a billion dollars.

That surprised a lot of people because Tesla has been guiding $26 billion in CapEx in 2026.

And much of that was expected in the second half of the year.

But CapEx came in way below expectation and...

That, on top of a few other things, resulted in Tesla actually building its cash position rather than depleting it in Q3.

So now it sits at a record $45 billion after losing a billion last quarter.

And yeah, there's a lot to unpack here.

So the gross margin went up.