Tesla made profit in 4 quarters for the first time


The automaker now looks forward to joining the S&P 500

Tesla made a profit for the first time in 4 consecutive quarters. Photo:

Tesla, an American electric car manufacturer, posted a $ 104 million profit in the second quarter of 2020, prompting the company to close its electric vehicle plant in Fremont, California, for nearly seven weeks due to the COVID-19 epidemic. Profit in four consecutive quarters.

As noted by the site The ledge, For Tesla, profit making has been an unachievable goal for a year.

It is stated in Press release For the same period in 2019, the company’s second-quarter net income was $ 408 million, or 50 cents per share, with a loss of $ 2.31. Earnings were a loss of $ 2.18 per share versus $ 1.12 per share excluding one-time earnings and expenses.

At the same time, revenue was reduced by only 5% – $ 6.04 billion instead of just $ 5.37 billion. In 2019, the figure was $ 6.4 billion.

Website Cnbc Noted that Tesla can now expect to join the S&P 500. Tesla shares rose 6% to better-than-expected results after trading close on the Nasdaq Stock Exchange.

Paypal magazine help

Earlier we wrote that Tesla achieved the largest market capitalization of any other auto company. During trading on July 1, a Tesla share price was $ 1,100, a 4% increase from the previous day. Thus, Tesla’s market capitalization reached $ 209 billion, $ 4 billion more than Toyota, which finished second. As noted by the media, this achievement is notable that Elon Musk’s company never made a profit.

In late April this year, Tesla’s value dropped by $ 14 billion following a series of controversial tweets published by the company’s CEO Elon Musk.

How to choose a bank card for your lifestyle
Smartphone Wallet: Top 5 Myths About Paying with a Mobile Account
Responsible Bank for Sustainability: UKRSIBBANK celebrates 30 years in the market

Donate papens magazine


Source link

Leave a Reply