Tesla: Despite Corona $104 Million Profit in Q2/2020

For the fourth consecutive quarter, Tesla is now reporting a profit. In the second quarter of 2020, despite corona lockdown of production, a profit of 104 million dollars was made and free Chashflo increased by 418 million. Sales revenues amounted to $6.04 billion, compared to only $5.4 billion analysts had expected.

Contributing factors were the new opening of the Shanghai Gigafactory and the Model Y, which was launched in the first half of the year. Tesla thus performed very well, despite the production shutdown in Fremont and Shanghai for several weeks due to the COVID 19 crisis.

After-market share price shot up from $1,592 per share to more than $1,700. It’s expected that Tesla will now be added to the S&P 500 Index. Here is the link to the company’s Q2 stock market report.

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This article was also published in German.