Tesla (TSLA) turns another profit in Q2 2020 — ‘against all odds’

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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 videos 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.

The thing that bugs me the most is that our cars are not affordable enough. We need to fix that.

Elon Musk – Q2 2020 Earnings Call (Read more at CleanTechnica)

Tesla Q2 2020 Earnings Call (Webcast and Q&A Session)

Video: Tesla (TSLA) Q2 2020 Earnings Call with Elon Musk.
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Tesla Q2 2020 Financial Results Update

Source: Tesla Investor Relations
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Iqtidar Ali
Iqtidar Alihttp://www.teslaoracle.com
Iqtidar has been writing about Tesla, Elon Musk, and EVs for more than 3 years on XAutoWorld.com, many of his articles have been republished on CleanTechnica and InsideEVs, maintains a healthy relationship with the Tesla community across the Social Media sphere. You can reach him on Twitter @IqtidarAlii

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