Billionaire Elon Musk has said his decision to acquire Twitter for $54.20 per share could potentially accelerate the creation of X, an 'everything app,' by three to five years.
When asked about the possibility of combining his companies under one umbrella, Musk said there's no obvious reason to do so right now. In addition to Tesla, Musk is the founder of SpaceX, Neuralink and the Boring Company.
"It’s not clear to me what the overlap is," he said. "It’s not zero, but it’s… I think we’re reaching."Tesla fell in Thursday trading on concern about demand for the company's products in the face of a weakening global economy.from the second quarter and 55% from last year's third quarter. The number came in just below estimates. Analysts expected $21.96 billion.
Its profits, meanwhile, were $3.3 billion, a significant increase from the $1.6 billion reported during the same three-month period in 2021. Adjusted earnings were $1.05 per share, toping the estimate of 99 cents.
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