Roughly a quarter of Tesla’s earnings last quarter were due to recognizing a $600 million gain on Bitcoin. Tesla

Tesla overall reported adjusted EPS of $0.73 in the fourth quarter, missing estimates for $0.76. The gain on its bitcoin holdings was for GAAP purposes and would have had no effect on adjusted EPS. Shares are higher by 3.5% in after hours trading.

Electric vehicle manufacturer Tesla reported a $589 million gain from its Bitcoin holdings after an accounting rule change in the US.

Vaibhav Taneja acknowledged Tesla’s benefit from its Bitcoin holdings during the company’s Q4 2024 earnings call. CEO Elon Musk is a known proponent of cryptocurrency, so it doesn’t come as a shock that Tesla was holding on to a large chunk of Bitcoin.

A new accounting rule helped Tesla report a $600M gain on digital assets in Q4, as their total value jumped to $1.08B.

Tesla CFO Vaibhav Taneja noted that the automaker’s net income in Q4 was “impacted by a $600 million market benefit from bitcoin due to the adoption of a new accounting standard for digital assets.” He said that Tesla would adjust its other income in future reporting periods going forward.

Tesla Q4 earnings call's high-level weirdness, including the impact Bitcoin had on the bottom line, what it means for stock prices.

The crypto market has increased by 0.4% to $3.57 trillion over the last 24 hours but is still 1.4% below last week’s levels. Cryptocurrencies are slowly and rather erratically climbing out of the dip they fell into on Monday. The market remains sensitive to negative news but is recovering cautiously, avoiding excessive optimism.

The crypto market has increased by 0.4% to $3.57 trillion over the last 24 hours but is still 1.4% below last week's levels. Cryptocurrencies are slowly and rather erratically climbing out of the dip they fell into on Monday. The market remains sensitive to negative news but is recovering cautiously, avoiding excessive optimism.

US stocks gained steam on Thursday afternoon as investors digested megacap tech earnings and waited for Apple (AAPL) results for more clues on prospects for Big Tech. Right ahead of the closing bell,

Tesla Inc (TSLA) reports record vehicle deliveries, significant investments, and plans for future growth amid challenges in Q4 2024.