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Tesla Earnings Fall On Hit From China Covid Surge – NewsOpener – US News

July 21, 2022
Source: newsopener.com newsopener.com
News Snapshot:
Tesla reported adjusted income of $2.6 billion in the second quarter, down from the $3.7 billion in the first quarter, but $1 billion more than it earned a year earlier. Revenue of $16.9 billion in the quarter fell 10% from the first quarter, but was up 42% from a year ago. Earnings were better than forecast by analysts surveyed by Refinitiv, while revenue was slightly below expectations. It also disclosed it had sold 75% of its bitcoin holdings, which it said added $936 million in cash to its balance sheet. CFO Zachary Kirkhorn said the company made a profit on...
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