TESLA

Amid a pandemic, the company profits 90 million euros in the second quarter

The American company Tesla recorded a net profit close to 90 million euros in the second quarter of this year, despite the seven-week stoppage at its car assembly plant in the USA, due to the Covid-19 pandemic.
This was the fourth consecutive positive quarter for the electric car manufacturer, which leaves this company qualified to be included in the Standard & Poor’s 500 (S&P 500) index.
According to news agency AP, a decision on this eventual inclusion will be made later.
In the second quarter of the year (April to June), Tesla posted net profits of $ 104 million (about € 90 million).
The restrictions imposed by the California government forced the electric car and solar panel maker to close its only assembly plant in the United States, in Fremont, California, between March 23 and May 11.
Tesla earned $ 2.18 (1.88 euros) per share, exceeding Wall Street estimates that predicted a balanced quarter, according to the FactSet study.
Even so, revenue fell 4.9% compared to the same period last year, to 6 billion dollars (about 5 billion euros), exceeding, however, the estimates of 5 billion (about 4,450 thousand euros) millions of euros).
Billionaire Elon Musk's company explained that its progress in the first half of the year positions it for success in the second half as production continues to improve.
The manufacturer also announced that it has already chosen the location to install its second assembly plant in the United States, although it did not disclose the location.
The Austin, Texas area was considered a favorite, but Tusla, Oklahoma, is also a possibility.

Lusa Agency