Income of Tesla and Alphabet has increased unexpectedly!
In the second quarter of this year, the income of electric car maker Tesla and Google's parent company Alphabet unexpectedly increased. Despite selling cars at discounted prices, Tesla's revenue at the time was $25.50 billion. And Alphabet's revenue from advertising and cloud services was $84.74 billion. News Reuters.
According to Tesla sources, the company earned $25.50 billion in the second quarter of the year, April to June, which was $24.93 billion in the same period last year. Although at that time, Tesla's revenue was expected to be 24.77 billion dollars by analysts.
Tesla's earnings have been boosted mainly by sales of electric cars at steep discounts in the second quarter of the year. It exceeded all analysts' estimates.
However, Tesla's profits have declined year over year. The electric car maker's second-quarter profit stood at $1.48 billion, up from $2.70 billion in the same period last year.
Similarly, Alphabet's revenue rose by 14 percent, beating estimates. The company earned $84.74 billion in the second quarter of the year. However, analysts were expecting the company's revenue to be $84.19 billion. In this case, the increase in income has played a major role in the sale of advertisements through digital media and the demand for the company's cloud computing services.
