“`html
Tesla and Ferrari Financial Updates
Tesla reported third-quarter revenue of $28.1 billion—up 12% from the previous year—due to buyers taking advantage of expiring EV tax credits. However, the company’s GAAP net income plummeted by 37% to approximately $1.4 billion, while operating expenses surged by 50% to $3.4 billion. This marked a significant decrease in operating margin, which fell to 5.8% compared to the previous year.
Conversely, Ferrari’s third-quarter results revealed a reduction in its five-year outlook. The company now anticipates an EBITDA growth rate of about 6%, down from the previous 10%, projecting annual EBITDA of around €3.6 billion by 2030 and sales of €9 billion, below Wall Street’s estimate of €10 billion. This led to a notable drop in Ferrari’s stock, its worst trading day since going public in 2015.
Ferrari continues to enjoy a strong operating margin of 29%, significantly outperforming Tesla. Ferrari has increased its total production by 88% over the past decade while maintaining high demand for its limited model output. In contrast, Tesla faces rising costs and increased competition in the EV market.
“`
