Tesla reports $600 million bitcoin profit jump after digital assets rule change

Tesla reports 0 million bitcoin profit jump after digital assets rule change



Elon Musk’s recent support for Florida Governor Ron DeSantis as a potential presidential candidate in 2024 was highlighted in June. Tesla’s reported net income for the fourth quarter saw a significant increase due to the company’s bitcoin holdings following a new rule change in accounting for digital assets. The Financial Accounting Standards Board’s policy change required companies to mark their digital asset holdings to market each quarter. Tesla’s earnings per share received a boost of 68 cents in the quarter due to this change, resulting in a $600 million net income increase. Despite falling short of analysts’ expectations, Tesla’s stock climbed in after-hours trading.





source


Discover more from GLOBALMALAYALAM.NEWS

Subscribe to get the latest posts sent to your email.

Leave a Reply

Your email address will not be published. Required fields are marked *

Discover more from GLOBALMALAYALAM.NEWS

Subscribe now to keep reading and get access to the full archive.

Continue reading