OMQ4 t1_issxt2r wrote
Reply to comment by Garrison1999 in TIL the Empire State Building opened during the Depression, and took 20 years to become profitable. by licking-windows
From a quick google search:
“Tesla then took profitability to the next level when it announced a $1.19 billion profit in the second quarter of 2021 (with $354 million coming from credit sales). Tesla ended 2021 with a net income of $5.51 billion (a 665% increase from 2020).”
Garrison1999 t1_issy4xj wrote
Okay fair, thanks for the info. My knowledge was out dated. My point still stands that it takes a while.
OMQ4 t1_issyie4 wrote
100% , also Tesla has been around since 2003 and didn’t become profitable untill like a year ago… that’s crazy!
A_Soporific t1_isuai9p wrote
They have yet to be profitable over the course of a year, but they have been profitable for a single quarter. It's really a value judgement if that counts or not.
Mr-Tootles t1_iswzwrc wrote
As an accountant… it does not.
There are so many ways to fiddle with profit in one quarter. So many one off accounting adjustments that can happen.
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