Musk declines to say more on SpaceX merger during Tesla earnings call

Elon Musk declined to expand on a possible Tesla-SpaceX merger during Tesla's third-quarter earnings call on Wednesday, The Guardian reports. The company said it would take no questions on the subject. Musk said he had covered everything that should be said the day before. He repeated that he felt like he was tap dancing through a minefield.

On the results, The Guardian reports Tesla beat earnings projections. The New York Times reports Tesla's profit declined, and that the company spent heavily on artificial intelligence and other new technologies.

Musk is CEO of both companies. On SpaceX's earnings call on Tuesday, he said each company has formed a special committee to discuss a merger. NBC News reports the boards formed them separately. The Hill describes them as independent.

The Verge reports the committees have not agreed on terms and that Musk said there is no guarantee they will. The Hill quotes him saying the decision is up to the committees. He called a merger a "good idea" and said it has "a lot of merit," according to Ars Technica, The Hill and Deutsche Welle. Al Jazeera reports he pointed to the firms' complementary work on AI.

The Guardian reports a deal would need approval from 50% of all Tesla shareholders. CBS News reports shares of both companies jumped after Musk's remarks on Tuesday. CBS News, BBC News and Al Jazeera say a deal would be the largest merger ever.