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Top stories today:
- Tesla’s operating income +54%, with EPS beating estimates
- Apple said to sharply scale back Vision Pro production
- Google releases SynthID Text to watermark AI-generated text
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware the few hallucinations):
1. Tesla’s operating income +54%, with EPS beating estimates as demand rebounds
+8% YoY in Q3 revenue to $25.18B, vs. $25.41B estimated.
+17% in Q3 net income (GAAP) to $2.17B, with an adjusted EPS of $0.72 beating estimates of $0.60.
463K vehicles delivered in Q3, vs. 444K in Q2 and 435K a year ago.
Cybertruck reached profitability for the first time.
Autonomous ride-hailing to go public in Texas and California next year.
Plans for more affordable models in 1H 2025.
Tesla’s stock was +12% in trading after hours
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3. Apple said to sharply scale back Vision Pro production
Demand has been weak so far.
Components for 500K-600K headsets have been built to date.
2025-end: cheaper Vision Pro may debut.
13-inch and 15-inch models in the new lineup.
Next week: new Macs, including MacBook Pro and iMac, said to launch.
This spring: new entry-level iPad models could debut.
