Next Big Futures, Inc. (NASDAQ: TBIF) today reported its earnings and revenue for the fourth quarter ended June 30, 2019, and for the full year ended June 29, 2019.
The company expects to report a net income of $8.9 million, up 9% from the same quarter last year, as the impact of the Tesla Model S, a major milestone for the carmaker, has yet to fully materialize.
The second-quarter results also reflect a positive impact of sales of the Model X SUV, which is scheduled for a November 2018 release.
The fourth quarter also includes a net gain of $4.7 million from a sales recovery of $16.3 million.
“Tesla has been one of the most anticipated vehicles ever, and we are excited to have the opportunity to sell and service more Model X SUVs during this critical period,” said Paul Straub, Chief Executive Officer.
“We believe that the Model 3, which will be released later this year, will be a key driver for growth in the Model S market, and the Model E, which we anticipate will become a key seller in the second half of 2019.
We are also excited to see the second-half impact of new products in the X, XSL, and XTA segments.
Our fourth quarter results also include $8,000 in pretax impairment charges for the loss of revenues related to the Model A, which were recorded in the first half of the quarter.
The Tesla stock price continued its upward trajectory on Friday, closing at $2,829.50, and is expected to continue its upward trend in the next 12 months.
The stock market is poised to break new highs again, thanks to a record-breaking increase in the number of shares available for sale.
At this time last year on April 26, the average stock market close was $837.00.
On April 29, the day before the NASDAQ opened, the opening price was $737.49.
For the full-year, the market is expected close at $836.50.
The NASDAQ closed at $11,741.00, up 8.3% from last year’s close.
For comparison, the Nasdaq average price for the S&P 500 was $12,079.90 on April 29.
The next big thing in the stock market: Biontech, which has been acquired by SolarCity, is expected for a big boost in the near term.
For its fourth quarter, the company expects earnings to reach $15.6 million, which represents a 7% gain from the prior year period.
SolarCity expects to deliver $12.7 billion in 2019 and $11.2 billion in 2020.
In the third quarter, BionTech expects to generate $8 million from sales of its new BionX2 electric vehicle, which was introduced in 2020, and another $1.5 million from the sale of its electric powertrain.
SolarTech has a total of approximately 14,500 employees worldwide.
The S&s stock price was trading at $6,632.00 at the close on Friday.
Tesla shares were trading at over $6 a share on Friday on Nasdaq, a more than 7% increase from their opening price of $6.90.
Tesla’s stock has risen more than 400% since March 1, 2019 and is now trading at around $85 a share.
For more information on Tesla, visit www.tesla.com.
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