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Tesla reported first-quarter revenue of $19.34 billion, far below analysts’ consensus of $21.11 billion. Automotive revenue slipped by roughly one-fifth year-on-year, and net profit tumbled seventy-one per cent, marking the steepest quarterly decline since the early pandemic period. Deliveries fell by thirteen per cent after production stoppages for model refreshes, while automotive gross margin narrowed to 12.5 per cent, just above the 11.8 per cent feared by analysts.​ Q1 2025 Earnings Call https://t.co/wCEPPfA1s7 — Tesla (@Tesla) April 22, 2025 Musk promises reduced government role During the earnings call, chief executive Elon Musk announced he will “significantly” scale back the time he spends leading the White House Department of Government Efficiency (DOGE) from early May, limiting himself to “a day or two a week” and redirecting attention to Tesla. The billionaire said the core work of establishing DOGE is “mostly done” and acknowledged that inve...

With Intel underperforming over the last several months, can a positive Q3 earnings report help reverse INTC’s ongoing drop? Indeed, the tech company’s stock has struggled to rebound from an underwhelming Q2 earnings report that certainly spooked investors. Now, they hope a different outcome can help reverse course. The latest earnings report is scheduled to arrive in just ten days. The October 31st records could show a surprise in revenue that leads to renewed interest. Yet, with ongoing discussions regarding the acquisition of Altera and a sale to Qualcomm (QCOM), it doesn’t appear likely. Source: Business Insider Also Read: Intel: 4 Reasons Why You Should be Worried About INTC Intel Q3 Could Make or Break 2024 Performance Throughout the year, tech stocks have been surging. With demand and interest within the AI sector booming, companies like Nvidia (NVDA) and Microsoft (MSFT) have been flourishing. Yet, that interest has proven to be a negative for some companies th...

A few months ago, Swan Bitcoin was climbing the ranks among the world’s largest Bitcoin companies. It passed $220 million in annualized revenue, planned to IPO on the Nasdaq, was mining 1.7% of the entire Bitcoin network (11.3 exahashes per second), and scheduled its third annual conference along with an additional events business. Not only that, on May 7, Swan confirmed rumors that had circulated since January that it had partnered with Tether for its Managed Mining business. As of January 12, the company had taken in approximately $25 million of a $30 million convertible note leading into its Series C financing. As Wall Street knows, by the time a company gets past a C or D round, an IPO is likely around the corner. However, a few days ago, Swan announced a massive round of layoffs, canceled its conference, and suspended its IPO plans. According to CEO Cory Klippsten, the IPO plan was shelved because Swan “didn’t carry forward with a big financing partner for our Managed Mining b...

Coinbase, a cryptocurrency exchange, reported a net loss of $2 million in Q3 2023 despite rising revenue and a drop in trading volume , according to details of the recent shareholders letter circulated on Nov. 2.  However, the exchange reduced its net loss compared to the same period last year, which was $545 million.  The company’s total revenue was $674.1 million, an increase of 14.2% compared to last year, with $334.4 million coming from subscriptions and services, and $288.6 million from transaction revenue. You might also like: Coinbase unveils crypto futures trading for eligible US traders Consumer trade volume was $11 billion, while institutional trading volume s were $65 billion, an improvement from the previous quarter.  Although trading volume s have been falling for five consecutive quarters, the exchange is optimistic. It expects an improvement by the end of Q4 2023. “Q3 was a strong quarter for Coinbase. Amid multi-year low levels of vola...

Digital Currency Group reports a 23 percent rise in Q3 revenue to $188 million and reports notable repayments to bankrupt crypto lender Genesis.  Digital Currency Group (DCG) has announced a robust 23 percent year-over-year increase in its third-quarter revenue , bringing the total to $188 million, up from last year’s $153 million. First reported by Bloomberg, the figures were mentioned in an investor communication, revealing an EBITDA of $69 million for the period. DCG attributes its financial uptick to a revitalized cryptocurrency market, which has been in recovery mode this year after a major downturn in 2022. Today, Bitcoin rallied over $35,000, its highest price this year. The resurgence is driven in part by growing anticipation that U.S. regulatory authorities will soon greenlight the country’s inaugural spot Bitcoin ETFs. You might also like: Crypto-related stocks soar as Bitcoin gains 10% on the day DCG’s legal troubles continue amid growth While its ...