Tesla(US:TSLA) 智通财经网·2025-04-25 01:52Group 1 - Tesla reported its worst quarterly earnings in recent years, but its Non-GAAP net profit was boosted by excluding the decline in cryptocurrency holdings, resulting in a Non-GAAP net profit of approximately $900 million, more than double the GAAP net profit of about $400 million [1] - The exclusion of cryptocurrency losses amounted to $97 million, and Tesla's CEO Elon Musk had previously announced the company's investment in cryptocurrencies but sold most of its holdings a year later [1] - The SEC has scrutinized companies' use of supplemental earnings metrics to ensure they are not overly optimistic, having previously held companies accountable for similar practices [1][2] Group 2 - The SEC focuses on the consistency of companies' use of supplemental earnings metrics, and if Bitcoin prices surge in the next quarter, the SEC may review how Tesla presents this portion of earnings [2] - Companies can use Non-GAAP metrics to provide clearer insights into core business performance, but they must not deviate too far from standard practices, as warned by the SEC [2] - The FASB issued a regulation in December 2023 requiring companies holding cryptocurrencies to report their tokens at fair value, reflecting the price volatility of these assets [2] Group 3 - Tesla's CFO acknowledged the impact of new accounting standards on the company's earnings, indicating that the adoption of a new fair value measurement for Bitcoin is expected to increase revenue volatility [3]