PANews January 27 news, Tesla (TSLA) released a quarterly earnings report on Wednesday, showing that the value of bitcoin held by the company at the end of the fourth quarter remained unchanged compared to the end of the previous quarter, at $1.26 billion. Tesla did not buy or sell any bitcoins in the fourth quarter, nor did it record an impairment loss on the bitcoins it held, because the price of bitcoin was basically flat from the end of the third quarter to the end of the fourth quarter.
According to the accounting rules for digital assets, if the price of an asset falls within a quarter, the company must report an impairment, but if the price rises, it is not reported as income on the balance sheet.
According to FactSet, Tesla's adjusted fourth-quarter earnings per share were $2.54, with market expectations of $2.36, revenue of $17.7 billion and market expectations of $17.1 billion. Tesla stock closed at $937.41 on Wednesday, up 2 percent on a daily basis.
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