Tesla's Bitcoin Hold Positions positively influenced its quarterly performance, benefiting from the impact of new accounting standards for digital assets. Chief Financial Officer Vaibhav Taneja stated during Tesla's Earnings Reports conference call on Wednesday that due to this accounting method, its Net income was boosted by $0.6 billion from the digital token's valuation at Market Cap. As early as the prosperous period of Cryptos in 2021, Tesla disclosed a total investment of $1.5 billion in Bitcoin. According to the latest quarterly report, the net value of digital assets on its balance sheet is $1.08 billion. The USA Financial Accounting Standards Board (FASB) required companies to account for digital assets at fair value, which took effect this year, but allowed early adoption. This regulation, released at the end of 2023, aims to reflect the latest fair value of highly volatile digital assets. The previous approach only allowed companies to record lower values, and enterprises betting on Bitcoin expressed dissatisfaction with this unilateral accounting treatment.
Clear
All
Quotes
News
Learn
Help
All
HK
US
CN
SG
AU
JP
All
News
Announcements
Reports
No matches yet
Operations too frequent. Please try again later.
Please check network settings and try again Refresh
Refresh
Loading
History record
Latest News
-
New stock issuance | "Snow King" has arrived! Miexue Group has launched its IPO, with a minimum subscription amount of 20,454.22 Hong Kong dollars, planned to be listed on March 3.
In the third fiscal quarter, Alibaba's total revenue grew by 8% year-on-year, with AI driving a 13% increase in Alibaba Cloud's revenue.
The king of "meme stocks" and the "big brother" of the USA has appeared! Shareholding in Alibaba has increased to 1 billion dollars.
Quotes
More
News
More
Learn
More
Help
More
Loading
News
More
Announcements
More
Reports
More
特斯拉业绩获得比特币持仓提振 新会计准则要求按市值计价
Tesla's performance was boosted by its Bitcoin Hold Positions, as the new accounting standards require valuation at Market Cap.
The translation is provided by third-party software.
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
Like
2
Comment
1 · Views 4179
Write a comment
1 2
Statement
This page is machine-translated. Futubull tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation.
Comment(1)
Reason For Report