Tesla posts surprise Q2 profit, ramping up cash despite coronavirus

dhita yudha

Tesla (TSLA) posted a profit in the second quarter, defying Wall Street estimates after the electric car-maker delivered more vehicles than expected in the quarter despite virus-related disruptions.

Here were the main results from Tesla’s Q2 report, compared to consensus estimates compiled by Bloomberg:

  • Revenue: $6.04 billion vs. $5.4 billion expected vs. $6.35 billion Y/Y

  • GAAP earnings per share: 50 cents, vs. GAAP loss per share of $1.06 expected and GAAP loss per share of $2.31 Y/Y

  • Free cash flow: $418 million, vs. outflow $617.9 million expected

Tesla’s second-quarter results came on the heels of an incredible 280% stock rally for the year to date as investors bet on the company’s long-term prospects, with the coronavirus pandemic weighing more heavily on established auto competitors. The near-fourfold increase in Tesla’s stock made it the second-best performer in the Nasdaq 100 after Moderna (MRNA), and rocketed Tesla’s market capitalization to nearly $300

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Burberry proposes 500 job cuts as fashion firm posts sales drop

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Burberry is planning to cut around 150 jobs at its London and Leeds offices, it emerged on Wednesday as the fashion company posted a fall in first-quarter sales.

There are also some 350 non-UK roles in shops that could be affected by a restructure, Burberry’s finance chief Julie Brown said.

The plans were outlined as the luxury retailer reported a 45% fall in first quarter sales and showed how Covid-19 has hit the business.

The company was hurt by the Covid-19 lockdown when various countries ordered retailers to shut shops and travel restrictions came in. In England non-essential stores were only allowed to reopen from June 15.

In total Burberry employs 10,000 people, including 3500 in Britain. There are 1350 based in the London HQ.

In the UK Burberry said it wants to “streamline office-based functions”, but Brown said Horseferry House in Victoria will continue to be its HQ. Most

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Tucker Carlson Announces ‘Vacation’ After Top Writer’s Racist, Sexist Posts Revealed

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Fox News’ Tucker Carlson addressed the resignation of Blake Neff, a writer for Carlson’s show who quit soon after a CNN report revealed racist and sexist comments he had posted online.

Carlson admitted to the viewers of his show on Monday night that “what Blake wrote anonymously was wrong.”

“We don’t endorse those words,” Carlson said. “They have no connection to the show. It is wrong to attack people for qualities they cannot control.”

At the end of his show, the Fox News host announced that he would be going on a previously planned trout-fishing vacation for the next few days. 

According to a report from CNN Business, Neff had been posting messages under a pseudonym on the AutoAdmit message board.

His posts included racial slurs and rants against Black people, as well as continuous posts sent over five years about a woman he mocked and insulted, CNN Business reported.

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Tucker Carlson Writer Resigns From Fox News After Racist Posts Were Exposed Online

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A top writer for Fox News’ host Tucker Carlson resigned from the network after he was exposed for posting bigoted comments online.

According to CNN Business, writer Blake Neff had spent years secretly writing racist, sexist, and homophobic remarks on AutoAdmit, an unmoderated online forum widely refer to as the “4Chan for law students and lawyers.” The outlet reports Neff was posting on the forum as recently as this week under the pseudonym CharlesXII. One of his latest comments was posted on a thread dating back to 2018 with the subject line: “Would u let a JET BLACK congo n***** do lasik eye surgery on u for 50 percent off?”

Neff reportedly responded, “I wouldn’t get LASIK from an Asian for free, so no.”

CNN also pointed to a June 5 post by CharlesXII, who wrote, “Black doods staying inside playing Call of Duty is probably one of the biggest

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