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Benzinga
Benzinga
Business
Surbhi Jain

DARK SECRETS: The biggest winner inside teslas earnings wasnt tesla it was spacex | Vintage Vibes

Kaunas,,Lithuania,2022,-,April,14:,Tesla,Logo,On,Screen

Tesla Inc. (NASDAQ:TSLA) reported stronger second-quarter earnings on Wednesday, but one of the biggest contributors to its profit wasn’t higher vehicle sales, energy storage or services. It was Space Exploration Technologies Corp. (NASDAQ:SPCX).

Buried in Tesla’s earnings report’s cash flow statement is a $1.005 billion pretax unrealized gain on its SpaceX investment, equal to $763 million after tax.

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