Tesla Exceeds All Expectations

 

Tesla earnings are news because the company tends to pull the market with it, either up or down. This quarter they are up! Tesla stock is up 2% since reporting second-quarter earnings on Monday.

The company beat revenue expectations of $11.3 billion by earning $11.96 billion. Net income passed $1 billion for the first time. In Q2 last year, net income was $104 million so that is quite the annual jump!

Tesla reported $23 million in Bitcoin holdings as an operating expense under “Restructuring and other,” meaning they intend to do something different with it but they’re not clear on what. Hmm…?

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