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Tesla Books $600 Million Boost From Bitcoin
Tesla profits get $600 million Bitcoin boost thanks to crypto accounting rule change
Bitcoin has rallied over 50% since Donald Trump’s election win and is currently trading near the $106,000 mark.
Bitcoin boosts Tesla profits by almost $600 million after accounting rule change
Elon Musk's EV maker invested $1.5 billion in bitcoin in early 2021. Companies can now record paper gains on cryptocurrencies as net income.
Tesla reports $600 million bitcoin profit jump after digital assets rule change
A recent change in the rules for how companies account for digital assets led Tesla to report a $600 million mark-to-market gain.
Tesla, Bitcoin
Tesla Marked Up Bitcoin Holdings Valuation in Q4, Booking a $600M Gain
Tesla overall reported adjusted EPS of $0.73 in the fourth quarter, missing estimates for $0.76. The gain on its bitcoin holdings was for GAAP purposes and would have had no effect on adjusted EPS. Shares are higher by 3.5% in after hours trading.
Tesla sees $600M Bitcoin gains in Q4
New accounting rules shed some light on the profitability of electric vehicle manufacturer Tesla's Bitcoin (BTC) investment.
Tesla (TSLA) acknowledged a $600 million benefit from Bitcoin holdings appreciation in Q4 2024
Vaibhav Taneja acknowledged Tesla’s benefit from its Bitcoin holdings during the company’s Q4 2024 earnings call. CEO Elon Musk is a known proponent of cryptocurrency, so it doesn’t come as a shock that Tesla was holding on to a large chunk of Bitcoin.
Electrek
15h
A quarter of Tesla’s earnings were due to recongnizing a $600 million gain on Bitcoin
Roughly a quarter of Tesla’s earnings last quarter were due to recognizing a $600 million gain on Bitcoin. Tesla ...
1d
Bitcoin makes a financial cameo
Tesla CFO Vaibhav Taneja noted that the automaker’s net income in Q4 was “impacted by a $600 million market benefit from ...
1h
Crypto Markets Analysis: Quiet Recovery on Friday
The crypto market has increased by 0.4% to $3.57 trillion over the last 24 hours but is still 1.4% below last week’s levels.
Electrek
11h
Tesla Q4 earnings call recap, PE ratios, and big Texas solar project goes online
Tesla Q4 earnings call's high-level weirdness, including the impact Bitcoin had on the bottom line, what it means for stock prices.
4h
Stock market today: Dow, S&P 500, Nasdaq move higher with Apple earnings in the wings
US stocks gained steam on Thursday afternoon as investors digested megacap tech earnings and waited for Apple (AAPL) results ...
9h
Tether Is Bringing USDT To Bitcoin Network, Which Will Allow 'Millions' To Send Dollars Globally
Cryptocurrency firm Tether (CRYPTO: USDT) announced the launch of USDT, the world’s most valuable stablecoin by market cap, ...
13h
Tesla Stock Slips After Opening Higher
Tesla stock opened up 5.5% at $410.50 before slipping. The initial rise was a surprise for two reasons. For starters, ...
15h
Wall Street rebounds as tech stocks rally; Comcast plunges, Grayscale unveils Bitcoin Miners ETF
The Dow Jones Industrial Average advanced 290 points (0.7%) as investors reacted to mixed corporate earnings, economic growth concerns, and anticipation of key inflation data.
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