Samsung Electronics defies pandemic with profit rise
South Korean tech giant Samsung Electronics defied the coronavirus to report higher net profits in the second quarter Thursday, with strong demand for memory chips overcoming the pandemic’s impact on smartphone sales. Long known as the…
GM Sees Path to Profit in Second Half After Quarterly Loss
(Bloomberg) — General Motors Co. reported its first quarterly loss since it emerged from bankruptcy but said it sees a path to full-year profit and paying off debt if the economy remains stable during the second half of 2020. With plants running…
Tesla Growth Is Musk’s Goal After Profit Opens Path to S&P
(Bloomberg) — Tesla Inc. managed to stay profitable even in the midst of a global pandemic, but something is still nagging at Elon Musk: the electric-car maker isn’t growing fast enough. The positive quarterly earnings Tesla reported Wednesday were…
Tesla reports $104m profit in second quarter of 2020 as ‘ridiculous’ market valuation soars
Tesla CEO Elon Musk gestures during the Tesla China-made Model 3 Delivery Ceremony in Shanghai: AFP via Getty Images Tesla has posted a second-quarter profit for its fourth quarter in a row, with a net profit of US$104 million (approximately £81.9…
Daimler Eyes Profit After Weathering Worst of Virus Crisis
(Bloomberg) — Daimler AG came through the worst of the coronavirus crisis better than feared and sees enough signs of recovery in auto demand to forecast a profit this year. After Tesla Inc. managed to stay profitable even in the midst of a global…
Tesla, posting a crucial profit, unveils Austin factory plan
With Tesla crossing a key financial milestone and enjoying a dizzying climb in the value of its stock, the company is treating itself to a splurge: a new factory. After months of speculation and unconfirmed reports, Chief Executive Elon Musk previewed…
Tesla is poised to join the S&P 500 after turning another profit; Elon Musk says its cars will become ‘5x more valuable’
Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism, subscribe today. Tesla reported its fourth quarterly profit in a row Wednesday, positioning the electric-car maker as a leader in an…
Tesla hits milestone in reporting a profit for its fourth straight quarter
Tesla reported a profit for the fourth straight quarter on Wednesday, surpassing a key milestone for the perennially loss-making electric car company. The company reported net income of $110m for the second quarter with a net profit of $104m, which it…
Tesla Growth Is Musk’s Goal After Profit Positions Stock for S&P
(Bloomberg) — Tesla Inc. managed to stay profitable even in the midst of a global pandemic, but something is still nagging at Elon Musk: the electric-car maker isn’t growing fast enough. The positive quarterly earnings Tesla reported Wednesday were…
ABB points to improving order situation after quarterly profit beat
By John Revill ZURICH (Reuters) – Swiss engineering firm ABB said on Wednesday its order situation could improve in the coming months, suggesting there was some light amid the gloom surrounding the industrial sector caused to the coronavirus…