Summary
- Tesla said first-quarter revenue rose 16%% from a year earlier to $22.387 billion.
- Its free cash flow was $1.444 billion and capital expenditure (CapEx) was $2.493 billion.
- A valuation loss tied to lower Bitcoin prices reduced the carrying value of digital assets from $1.008 billion to $786 million.
Forecast Trend Report by Period
Tesla reported higher first-quarter revenue, but the carrying value of its digital assets fell as lower Bitcoin prices triggered a markdown.
WuBlockchain reported on April 22 that Tesla posted first-quarter revenue of $22.387 billion, up 16% from a year earlier. Operating profit was $941 million, and non-GAAP net income was $1.453 billion.
Free cash flow totaled $1.444 billion, while capital expenditures were $2.493 billion.
Tesla also recorded a valuation loss on digital assets. The carrying value of those holdings fell to $786 million from about $1.008 billion at the end of the previous quarter, reflecting a fair-value adjustment tied to the drop in Bitcoin prices.
The company did not separately disclose whether it bought or sold Bitcoin during the quarter.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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