Tesla’s Profit Tumbles as Costs Undermine Record EV Sales

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu-Steve Man, Bloomberg Intelligence Global Autos and Industrials Research Analyst, recaps Tesla earnings. Tesla Inc.’s profit plunged despite a record quarter of vehicle sales, reflecting ongoing strains on the automotive business. Musk spent much of Tesla’s third-quarter earnings call discussing ambitious but opaque initiatives, including humanoid robot and artificial intelligence programs, and also pleaded with investors to back his trillion-dollar compensation package.- John Butler, Bloomberg Intelligence Senior Telecom Analyst, discusses T-Mobile earnings. T-Mobile US Inc. gained 1 million new mobile phone subscribers in the third quarter and raised its outlook for the year, buoyed by its recent acquisition of US Cellular.-George Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, & Airlines Analyst, discusses airline earnings. American Airlines Group Inc. reported a smaller-than-expected loss in the third quarter, with an adjusted loss of 17 cents a share. Southwest Airlines Co. posted a surprise adjusted profit in the third quarter, boosted by fees from its new policy of charging passengers for bags.-Nathan Naidu, Bloomberg Intelligence Technology Research Analyst, discusses Bloomberg Intelligence’s cloud gaming deep dive. According to BI, The rising adoption of generative AI will push the video-game industry toward cloud-streamed gaming, a market it expects will reach $35 billion in a decade.   See omnystudio.com/listener for privacy information.