Tag: Tesla

Tesla’s Second-Quarter Earnings Hurt By Supply Chain Problems and Bitcoin

Tesla said Wednesday that profit in the second quarter fell nearly one-third from the first quarter as deliveries slowed because of shutdowns and raw materials shortages at the carmaker’s factory in Shanghai. Profit in the quarter was $2.3 billion, Tesla said, compared to $3.3 billion in the first quarter, which was a record. Sales fell… Continue reading Tesla’s Second-Quarter Earnings Hurt By Supply Chain Problems and Bitcoin

Tesla earnings show quarterly decline in profits, year-over-year growth

Tesla’s second-quarter earnings report tells a story of quarterly declines and year-over-year growth. The company reported Wednesday a quarterly decline in revenue and earnings as supply chain constraints, inflation and an extended shutdown in China chipped away at its bottom line. Tesla generated $16.9 billion in revenue in the second-quarter, down from $18.8 billion in… Continue reading Tesla earnings show quarterly decline in profits, year-over-year growth

Lyft lays off about 60 employees, shutters in-house car rentals program

Lyft has joined the ranks of tech companies trimming its workforce. The news of the layoffs, initially spotted in LinkedIn posts by now-former Lyft employees, has been confirmed by the company. Lyft said it has laid off about 60 people and dropped its in-house car rental service and is consolidating global operations. The Wall Street… Continue reading Lyft lays off about 60 employees, shutters in-house car rentals program

Tesla (TSLA) announces it sold most of its Bitcoin

Tesla (TSLA) announced today that it sold most of its Bitcoin, about 75%, during the last quarter. The automaker didn’t elaborate on the reason. Early in 2021, Tesla invested $1.5 billion in Bitcoin. Shortly after, the automaker started accepting the cryptocurrency as payment on new vehicles. However, a few days later, Tesla took a step back with crypto… Continue reading Tesla (TSLA) announces it sold most of its Bitcoin

Tesla surpasses 35 million miles driven on Full Self-Driving Beta, and pace is ramping up

Tesla is reporting that its fleet of customers driving with the Full Self-Driving (FSD) Beta has now surpassed 35 million miles driven, and the pace is ramping up. FSD Beta enables Tesla vehicles to drive autonomously to a destination entered in the car’s navigation system, but the driver needs to remain vigilant and ready to… Continue reading Tesla surpasses 35 million miles driven on Full Self-Driving Beta, and pace is ramping up

Tesla (TSLA) reports massive increase in production capacity across all factories

Tesla (TSLA) is reporting a massive increase in production capacity across all its factories, closing in on a 2 million vehicle annual production capacity. While Tesla had a tough Q2 2022 due to its forced factory shutdown at Gigafactory Shanghai, we knew that the automaker took the opportunity to increase capacity everywhere during that time.… Continue reading Tesla (TSLA) reports massive increase in production capacity across all factories

Jury: Tesla just 1% to blame for teen driver’s fiery crash

Miami – A jury in Florida has found Tesla just 1% negligent in a fiery crash that killed two teens, for disabling a speed limiter on the electric car. Tuesday’s verdict placed 90% of the blame on the driver, Barrett Riley, and 9% on his father, James Riley, who brought the lawsuit against Tesla. It’s… Continue reading Jury: Tesla just 1% to blame for teen driver’s fiery crash

@Tesla: Tesla Releases Second Quarter 2022 Financial Results000091

AUSTIN, Texas, July 20, 2022 – Tesla has released its financial results for the second quarter of 2022 by posting an update on its Investor Relations website. Please visit https://ir.tesla.com to view the update. As previously announced, Tesla management will host a live question and answer (Q&A) webcast at 4:30 p.m. Central Time (5:30 p.m.… Continue reading @Tesla: Tesla Releases Second Quarter 2022 Financial Results000091

Tesla sold 75 percent of its Bitcoin

Tesla already reported vehicle shipment numbers for the second quarter, and now its full Q2 2022 financial report (pdf) reveals it’s dealing with inflation and the overall economic downturn, as well as the “crypto winter” that has sent prices of Bitcoin plunging. In the letter to investors, Tesla execs reveal the company has sold 75… Continue reading Tesla sold 75 percent of its Bitcoin