The staggering run into this report lets go straight to phil lebeau with all the details. A beat on the top and bottom line and the beat on the bottom line is significant. Lets run through some of the numbers. Much better than expected earnings per share and its a fourth straight profitable quarter for tesla. 2. 18 is how much it earned in the Second Quarter the street was expecting three cents profit revenue just over 6 billion as i mentioned, a fourth straight profitable quarter for tesla. We know the significance of that it is the last hurdle the company needed to clear in order to be included in the s p 500. Lets drill down some numbers within the report that are going to get attention operating cash flow, 418 million. Automotive revenue was actually down it declined by 3. 4 in the quarter, not a surprise given the fact that you had the freemont factory shut down for five or six weeks. But the automotive regulatory credits revenue, thats where they made it up. That was up 317 milli
P. P. E. And other medical supplies so they can adhere to the safety guidelines and provide a clean and safe environment. But it doesnt stop there. Im also working to assist our lowerincome families, those who rely on the Child Care Development block grants and those who simply need access to clean diapers. Just a couple of weeks ago i was in davenport, iowa, where i got to take part in a Diaper Distribution with the hiney heroes of the qadhafi at the quad city. The National Diaper bank donated 25,000 diapers to this important diaper bank. We know that during this pandemic the diaper supply has run short and ive teamed up with democratic senator chris murphy on this effort to include additional assistance for our diaper banks. Covid19 has also created challenges for our farmers. These hardworking folks are facing new challenges while working around the clock to make sure americans have adequate access to food and fuel. I was visiting with some farmers at the bloomfield livestock market
Been. I think the 10 moves weve seen n any direction, 4 on an up day is a little bit of a sigh of relief on this friday. We begin with the highest toll from the coronavirus is in italy. Chinas ntry surpassing numbers. Italian fatalities topping 3,400. Lockdown nationwide continues. Europe at the epicenter of the disease. France reporting a 41 rise in deaths. 28 . , an increase of now, here in the United States to california and the Governor Newsom ordering the entire state to selfisolate at home. Thats 40 million people. Far the move is the most stringent measure in the u. S. To curb the spread of the virus, allowing people to leave their homes, but for groceries and medicine. Otherwise, social interaction is limited. Businesses, by the way, not deemed essential are closed. Negotiators of postbrexit trade talks are now isolation because of the coronavirus after showing symptoms of the virus, the chief negotiator david franz isolating himself earlier on thursday. Mr. Frosts counterpart
The governor of california recommends the elderly should take shelter in their homes. New york city closes its schools. Many states close bars and restaurants. Hourly workers, in dire straits. The economy is grinding to a halt and we dont know how long this massive disruption will last. All right. Heres the financial reaction. This monday morning, stock futures are limit down and when we open an even bigger drop is expected. That may mean a trading halt. Travel and leisure stocks again beaten down. Airline stocks, decimated. Last night, the fed took emergency action, cutting rates to the lowest level since 2008 and pumping 700 billion into the Financial System. Were waiting for a rescue package from congress. Were waiting to see if the administration will put money directly into the hands of affected workers, helicopter money, for example, and into desperate industries. A kind of modern bailout. So whats next . We will find out in 90 minutes. At 10 30 eastern, Vice President pence hold
Affect business and Consumer Sentiment and Investor Sentiment. A chorus of asian bankers saying theyll take action and the bank of china also places easing china sectors and auto sales plummet. U. S. Futures turn higher after joe biden takes texas. California is still too close to call as the former Vice President gets into the super tuesday spirit it is a good night and seems to be getting even better. They dont call it super tuesday for nothing. We have a very busy show talking about everything from super tuesday from that surprise rate cut for the month of february, we have the final Services Numbers that came in at 52. 6 versus the flash estimate of 52. 8 the final Services Number lower than the estimate. As for the composite number for february, 51. 6 this data is now beginning to look outdated given the extent of the slow down given manufacturing and supply chain and coronavirus. The impact will show up in march. Worth baring in mind that we did fleetingly start to see European D