Tesla profit falls 44% as it weighs SpaceX merger

clickondetroit.com —

Tesla reported a 44% drop in third-quarter net income to $787 million, falling to 22 cents per share, as it considers a potential merger with Elon Musk's SpaceX. Excluding certain items, earnings per share of 48 cents beat analyst expectations by 3 cents. Revenue was flat at $28 billion, slightly missing forecasts. Musk said special committees at both companies are discussing a possible combination, though hurdles remain. Tesla stock rose 1.6% in after-hours trading after gaining 3.6% during the regular session. Musk made the merger comments during a SpaceX conference call Tuesday.


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