Tesla Reports Q2 Earnings, Maintains Bitcoin Holdings

Author: Nidhi Kolhapur

Nidhi Kolhapur

Author

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Jul 24, 2024 12:56

According to PANews, Tesla’s latest financial report for the second quarter of 2024 reveals that the company achieved a total revenue of $25.5 billion, surpassing the expected $24.63 billion. But automotive revenue dropped 7% to $19.9 billion from $21.27 billion in the same quarter a year ago. Capital expenditures in the quarter increased 10% from a year ago to $2.27 billion. The company incurred $600 million in expenses for artificial intelligence infrastructure. Notably, Tesla did not engage in any Bitcoin transactions during this quarter, marking the eighth consecutive quarter without buying or selling the cryptocurrency.