Revenue looks fine, it's up 26%. So the main things are: Operating income dropped from 923M to 398M, they sold more cars and made less money doing it The profit was inflated: they got 274M tax benefit from releasing a California valuation allowance. Strip that out, and net income was down about 28% from last year. Costs are exploding: R&D up 49%, SG&A up 45%. 1.4B in extra operating expenses in a single quarter. High margin regulatory credit business collapsed 67% Gross margins in energ
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