Tesla Net Income Exceeds $1 Billion In Q2

Published July 27th, 2021 - 12:00 GMT
Tesla Net Income Exceeds $1 Billion In Q2
Tesla also achieved record figures for production and delivery of its electric cars in the past quarter. (Shutterstock)
Highlights
Revenue increased by 98 percent to a total of 12 billion dollars.

Tesla posted record results on Monday, this time marking the first time the electric carmaker earned more than one billion dollars in a single quarter.

The firm founded by Elon Musk saw a tenfold increase in its year-on-year net income to 1.1 billion dollars in the three months to the end of June, according to Deutsche press agency (dpa).

Revenue increased by 98 percent to a total of 12 billion dollars.

The quarterly figures far surpassed analysts' expectations. However, the firm's stock reacted relatively cautiously and initially posted only slight gains in after-hours trading.

Tesla also achieved record figures for production and delivery of its electric cars in the past quarter.

The company delivered 201,304 vehicles to customers and produced 206,421 units - more than the company has ever produced in a single quarter since the company was founded in 2003.


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