Tesla's Q3 adjusted EPS beat expectations, free cash flow significantly better than expected, capital expenditure $3 billion below expectations

Tesla reported Q3 results, with adjusted EPS of 48 cents, above the Bloomberg consensus estimate of 44 cents; free cash flow reached $1.53 billion, far better than the market's previous expectation of negative $4.99 billion. The core reason for free cash flow significantly exceeding expectations was that quarterly capital expenditure was $3 billion below the company's own expectations, at $4.73 billion. Tesla's quarterly revenue was $28.05 billion, in line with expectations and flat year-over-year, while operating profit fell 56% year-over-year to $718 million, with an operating margin of only 2.6%.