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Tesla profits top estimates despite China production hit

July 21, 2022
Source: digitaljournal.com digitaljournal.com
News Snapshot:
Elon Musk's Tesla reported better-than-expected profits despite a hit from China lockdowns - Copyright AFP Niklas HALLE'N Tesla reported a better-than-expected $2.3 billion in second-quarter earnings on Wednesday, despite a hit from Covid-19 lockdowns in Shanghai that weighed on profit margins. Elon Musk’s ambitious electric vehicle company scored about twice the profits in the just-finished quarter as that of the year-ago period. In recent weeks, Musk has made headlines over his withdrawal from a $44-billion acquisition of Twitter, which has spurred a lawsuit from the social media giant. Although profits topped estimates, they lagged behind those in the first quarter,...
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Tags: acquisition | Automotive | bitcoin | blockchain | China | copyright | Covid-19 | digital | electric vehicle | Elon Musk | factory | fintech | Giant | IT | labor | lawsuit | logistics | manufacturing | media | production | Shanghai | social media | supply chain | Tesla | Twitter

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