Tesla shares fall 3% after cutting capital spending

Tesla reported $28 billion in third-quarter revenue, flat year over year, but posted positive free cash flow instead of the $4.92 billion burn analysts expected. Shares fell 3% after the company cut capital spending.

• Tesla Q3 revenue was $28 billion, unchanged year over year
• Analysts expected $4.92 billion cash burn; Tesla posted inflow
• The company reduced capital expenditures
• Tesla shares fell 3% after the report