American electric car maker Tesla Inc ended the first quarter of this year with record profits, but the company’s revenue was slightly worse than market forecasts. This is stated in a press release from Tesla.
Thus, the company’s net income in January-March was $ 438 million, or $ 0.39 per share, compared to $ 16 million, or $ 0.02 per share, for the same period last year.
Last quarter, Tesla sold emission allowances to other automakers for a record $ 518 million, up 46% from the same period last year. Without the sale of quotas, Tesla would have ended the quarter at a loss.
Also in the first quarter, the company also earned $ 101 million from bitcoin sales.
Tesla’s quarterly revenue jumped 74% to $ 10.39 billion from $ 5.99 billion in the same period a year earlier.
Experts interviewed by FactSet, on average, forecast a net profit of $ 509 million, revenue – $ 10.48 billion.
Tesla reports a “significant increase” in car sales. In early April, Tesla reported that in January-March, they shipped 184.8 thousand cars to customers.
The cost of Tesla cars in the first quarter increased by 13% compared to the same period a year earlier. At the same time, the company notes that the growth rate of profitability of its operations, as well as cost reduction, were even higher.
Shares of Tesla fell 1.6% in additional trading on Monday. Since the beginning of this year, their value has increased by 4.6%.
SoftServe is expanding its presence and opening new office spaces in four cities — Vinnytsia, Khmelnytskyi, Uzhhorod, and Odesa. They are available for 250 people working in these regions as well as other employees. The coworking in Vinnytsia where SoftServe has around 50 employees is already fully operating. Odesa is the next — office space […]
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Radisson Hotel Group is proud to be the world’s first hotel group to make all meetings and events across 400+ hotels in its EMEA portfolio carbon negative. For every event taking place at its participating hotels, Radisson Hotel Group will offset double the carbon footprint, to ensure that every meeting has a positive impact on […]
During trading on Monday, October 11, the price of a barrel of Brent oil rose by 2% to $ 84.01. She reached this mark for the first time since October 2018. US WTI oil rose by $ 1.62 to $ 81.3 – the highest price since 2014, according to Reuters. It is noted that Brent […]
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The new Tesla factory in Berlin may release the first electric cars next month. CEO Elon Musk stated this. Speaking at the plant, Musk said he hoped to get the green light to begin production in the coming weeks. The last consultation on public concern about the plant ends on October 14, after which the […]
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Pechersk District Court of Kyiv satisfied the petition of the Main Investigation Department investigators of Natspolitsiia and arrested the property of the former ruler of PJSC City Commercial Bank (CityCommerce Bank). Such a decision the court took on January 12 this year. According to the document, the former ruler of the bank is suspected of […]
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El Salvador was the first in the world to legalize bitcoin as an official means of payment. Such a law was passed by the country’s parliament. 62 parliamentarians supported the bill, 19 voted against, and three abstained. President Nayib Bukele intends to sign the law soon, after which it will take effect “immediately”. Thus, accepting […]
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Apple has intensified work on its own search service, which will become a competitor to Google, writes the Financial Times, citing interlocutors in the mobile industry. One of the signs of this, the interlocutors called the fact that after updating the iOS operating system, Apple began to show its own search results and provide direct […]
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US International Business Machines Corp. (IBM) slightly increased its net profit in the third quarter of 2020, despite on the declining revenue in the context of the coronavirus pandemic, forcing businesses to delay implementation of projects to preserve capital. According to the press release of the company, Net income in July-September was $ 1.7 billion, […]
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German automaker BMW will have to withdraw 193 thousand of its cars from the Chinese market. It is reported by Russian news portal Tass.ru with reference to The Xinhua News Agency. According to the original source, the car had to be removed from sale due to security problems: in particular, it is a defect of […]
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In Ukraine, land belongs to citizens only within the limits allowed not by the law but the authorities, and the problem of ownership is inherited from the totalitarian times. By the way, the moratorium on selling land operates in Venezuela, Congo, Tajikistan, North Korea, and Cuba, in addition to our country… Law and Practice Neither the Verkhovna Rada nor the Constitutional […]
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