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Tesla's Q2 2024 Bitcoin holdings remained unchanged, according to filing information.
Tesla's profits fell more than 40% from a year ago, a steeper-than-expected decline for the company that faces a tougher environment for electric vehicle sales.
Tesla reported adjusted revenue of $1.8 billion, or 52 cents per share, for the quarter. Analysts had forecast earnings of 61 cents per share, which would be well below earnings of 91 cents a year ago.
Revenue of $25.5 billion was flat, a good result for the company, which reported 5% fewer vehicles sold compared to last year. This was the second consecutive quarter of sales decline for the company.
However, adjusted profit margin (EBITDA), excluding interest, taxes, depreciation and amortization, fell to 14.4% from 18.7% a year ago.
*This is not investment advice.