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Tesla’s quarterly profit exceeded $ 1 billion for the first time

July 27, 2021 at 9:20 a.m. SITA

NEW YORK. For the first time above the four-year profit of the American car manufacturer Tesla one billion dollars. The pioneer in the production of electric cars succeeded by its ability to overcome the lack of chips caused by the pandemic, which caused great difficulties for other automobile companies.

The milestone in financial results is a continuation of Tesla’s two-year prosperity, which has removed questions about the company’s long-term viability.

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Tesla has now consolidated its position as a leader in the transition of internal combustion engines and is expected to achieve even greater profitability.

The company reported a profit of $ 1.1 billion, or $ 1.02 per share, for April-June. Compared to the same period a year ago, his profits increased more than ten times.

The company’s revenue nearly doubled year-over-year to nearly $ 12 billion.

After adjusting for non-recurring items, Tesla posted earnings of $ 1.45 per share last year. It comfortably surpassed the forecast of surveyed analysts by FactSet, who estimated that adjusted earnings would be 94 cents per share.

In the three months to the end of June, Tesla produced more than 206,000 cars. It reached this production volume in one quarter for the first time in its history.

Tesla currently has a market value of about $ 630 billion, well above the market value of any other automaker. In the last two years alone, the value of the company has increased 14-fold.

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