NEW YORK, April 25 -- Tesla Inc. concealed a US$97 million (RM424 million) loss from cryptocurrency holdings in its latest earnings report, using accounting adjustments that boosted its non-GAAP earnings by roughly 12 per cent.

The electric vehicle maker reported adjusted earnings of about US$900 million - more than twice its official net income of US$400 million - after excluding the crypto-related loss and a much larger expense tied to stock compensation.

According to a Bloomberg report, this approach helped offset what was otherwise Tesla's weakest quarterly performance in years.

Such practices fall under the watch of the US Securities and Exchange Commission (SEC), which reviews unofficial earnings figures to ensure companies are n...