willow_hiller
Well-Known Member
Tesla earnings meet Q2 expectations, sells 75% of its Bitcoin
Tesla reported its Q2 earnings after the bell on Tuesday, meeting analysts expectations.
"meet Q2 expectations"
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Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable
- Thread starter AudubonB
- Start date
"meet Q2 expectations"
Instant torque on the stock price, just need to keep producing across all Gigas.
Edit: Of course when they do operate fully without any negative events what will the shorts, the bears and the media shills have to gripe about?
TheTalkingMule
Distributed Energy Enthusiast
They're clearly on top of it. Indonesia. Brazil. I expect an announcement in early 4Q and hopefully a build out similar to Shanghai.
Taking over the world. Benevolently of course.
As of the end of Q2, we have converted approximately 75% of our Bitcoin purchases into fiat currency. Conversions in Q2 added $936M of cash to our balance sheet
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Honestly, nothing about this Q2 makes me happier than finding out they dumped 75% of their Magic Internet Money and even took a profit!
What do you know... TSLA below 750 again ... who would be pushing this interpretation of the Q2 results, perchance?
Friends, we're through the dreaded Q2 ER once the conference call is over. Optimism for Q3 and Q4 is important in the call. Focus shifts to Q3 and Q4 after the call. Looking forward to getting Q2 behind us at long last
Friends, we're through the dreaded Q2 ER once the conference call is over. Optimism for Q3 and Q4 is important in the call. Focus shifts to Q3 and Q4 after the call. Looking forward to getting Q2 behind us at long last
It doesn't look like they sold bitcoin at the bottom. Unless my math is wrong.
Total bitcoin units = 42,203
75% = 31,652
Cash from sale = $936MM
$936MM / 31,652 = $29,571
Total bitcoin units = 42,203
75% = 31,652
Cash from sale = $936MM
$936MM / 31,652 = $29,571
BTC
Proceeds: 936
Holdings: 218
However, 218 is the low water mark from Q2 of 17,708. BTC is currently at 23,030 so that is $283M, if held today.
Adding together yeilds $1,219M which is a tad under the $1,261M previous holding value. However, they had also made a profit early on, so total impact of the Bitcoin experiment may yet be profitable.
looks like they are trying to figure out if this is good or bad after hours. A lot of nothing right now
It is entirely likely that Tesla selling bitcoin is a big part of WHY bitcoin bottomed out.
And conversely, why it is recovering now. Big sellers move markets.
Buckminster
Well-Known Member
No, restructuring expenses where only ~$142M.BTC likely sold to cover severance pay
Looks like the new FUD being pushed is that free cash flow is actually negative but the BTC sale "cooked the books".
Does anyone remember around when they bought? I want to say it was 24-27k or so based on our guesses.
They did pay off $402M of debt as well...
The sell down of bitcoin by management is my favorite part of this earnings report. Really restores my faith 100% in management that they can recognize when they made an error and appropriately reverse course.
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