earnings report
HODL! Tesla hangs onto all its remaining $218M in Bitcoin in Q3
Electric vehicle manufacturer Tesla has made no further changes to its remaining stash of Bitcoin (BTC) in the third quarter of 2022, despite nearly a $1 billion sell-off in the previous quarter. The company’s Q3 report released Oct. 19 shows $218 million worth of “digital assets” remains on its balance sheet, with no reported losses in the value of its holdings. Based on current prices, it’s estimated that Tesla still holds around 9,720 BTC. In Q2 earnings report, Tesla said it sold 75% of its Bitcoin during the quarter, adding $936 million in cash to its books and recording a $64 million profit from the sale. Tesla CEO Elon Musk explained at the time that the sell-off was due to liquidity concerns from the COVID-19 lockdowns in China. The sell-off during the quarter took a large chunk of...
CTS Eventim’s Quarterly Earnings: Revenue Down 34.7%, Liquidity Looks Good & More Takeaways
Live entertainment revenue at the German event producer fell 40.4% due to the suspension of concerts across Europe. Europe’s coronavirus crisis took a huge toll on German event producer CTS Eventim in the first quarter, leading to a 34.7% decline in revenue to €184.6 million ($202.1 million) and clouding the outlook for the remainder of 2020. Due to countries’ suspensions of concerts and other gatherings due to the coronavirus pandemic, CTS Eventim’s live entertainment revenue fell 40.4% to €108.6 million ($118.9 million) while ticketing revenue fell 24.4% to €79 million ($86.5 million). CTS Eventim had been growing quickly until the pandemic threw the touring industry into disarray. In 2019, revenue rose 16.2%, and adjusted earnings before interest, taxes, depreciation and amortization in...
