Tesla (TSLA) aces this quarter as well despite the entire automotive industry suffered significantly lower sales due to the global pandemic situation, Tesla was able to pull another profit that qualifies the company for inclusion into the S&P 500 index.
The Silicon Valley-based automaker reported a GAAP profit of $104M which has crushed the expectations of the Tesla naysayers and short-sellers, this translates to a per-share profit of $2 dollars and 18 cents (Tesla Q2’2020 financial update results PDF and Elon Musk Earning Call audio below).
Jim Cramer the host of Mad Money on CNBC, a former hedge fund manager, co-found of TheStreet.com, and previously a Tesla critic and bear tweeted that “Tesla is not a stock”, the world must be thinking the Tesla Kool-Aid has taken over his cognitive ability, whatever it is, he is now a believer as well.
After the announcement of the Q2 2020 financial results, Tesla CEO Elon Musk along with other executives from the company held a webcast and Q&A session with institutional investors and journalists (listen to the full call below) — some of the interesting and exciting points from this conversation were posted on Twitter by our friends and active Tesla community members, let’s read:
Elon Musk also said in the opening remarks of the earnings call that they have finally chosen Texas as the location of the Cybertruck Gigafactory, it will most probably be located in Austin for which we posted a few photos and video of the possible site last month. He had dropped the hints of the next US Tesla Gigafactory in the Q1 2020 Earnings Call, now things are being finalized.
Tesla Q2 2020 Earnings Call (Webcast and Q&A Session)
Tesla Q2 2020 Financial Results Update
Latest Tesla News:
- Tesla files for a permit to expand Giga Texas by 500,000 sq ft — production ramps to 100 Model Y SUVs per day
- Elon Musk gains 100 million Twitter followers just before his 51st birthday
- Giga Texas-made Tesla Model Y Standard Range AWD also gets a $2,000 price increase
- Tesla (TSLA) to select 2022 Annual Shareholder Meeting attendees through a random draw — here’s how to sign up and vote online, more
- Tesla Bot is painted in graffiti art with codes and specs on a Giga Berlin wall — 1,000 Model Y per week production rate reached
- After Australia and New Zealand, Tesla Enhanced Autopilot is coming back to the US and Canada
- Tesla makes massive price increases across its S3XY vehicle lineup — except for some variants
- Tesla Model 3 now comes with Hankook Kinergy GT tires instead of the Michelin Primacy MXM4