“We achieved significant milestones in the quarter including a solid pre-tax profit in the month of June."
Expensive quick fixes are helping companies endure COVID-19 but they are not sustainable over a prolonged period of heightened volatility.
Even a relatively mild decline in demand could easily push Tesla back into negative income territory.
CFO Hiroki Totoki says Sony's consumer electronics unit has been hardest hit by the pandemic “but the impact will expand to other businesses."
The layoffs are part of an effort to cut costs as the company seeks to achieve profitability by mid-2021.
"The most important issue facing most managers in this difficult economy is making more money from the existing business without costly new initiatives. "
The teledentistry company said it would pivot to control growth to achieve profitiability after posting a 25 cents per share loss.
While Uber's Rides segment is profitable, it is spending heavily on new businesses such as Eats.
The car maker said it removed substantial costs from its business during the quarter and delivered a record number of vehicles.
Boosted by a 6% gain in net interest income, the industry's strong Q1 performance followed a record year in 2018.
The company' sees steady progress toward profitability after this year but revenue growth is expected to slow to 52% in 2019.
While the automaker sees a return to profitability in Q3 after the $702 million Q1 loss, S&P is predicting only limited improvement.
