Tesla’s Q2 profit for 2021 was impressive after the Californian company overcame serious supply chain problems in the latest quarter, boosting its profit margins and pushing its revenue above Wall Street expectations, according to data released late Monday.
The electric car company announced net revenue of $1.14 billion for the quarter. This is the first time its revenues have exceeded $1 billion. In the previous year, net income amounted to $104 million.
Earnings per share were $1.45 a share. with forecasts of 98 cents per share. The automaker’s revenue in the latest quarter was $11.96 billion compared with forecasts of $11.30 billion.
Tesla had already reported deliveries (closer to sales) of 201,250 electric vehicles and a total production of 206,421 vehicles during the quarter ended June 30, 2021.
Remarkable is the fact that during the second quarter of the year Tesla’s coffers entered more than $800 million of the US manufacturer’s sales in the energy sector
As part of the release of the company’s financial results, Elon Musk said “there was a big fight this quarter” for the company to procure electronic units that control airbags and seat belts in Tesla vehicles.
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As you know, global semiconductor shortages have limited the company’s production in both Fremont, California and Shanghai.
The average sales price of Tesla cars fell by 2% year-on-year, but profit margins for the automaker continued to improve, rising to 28.4% in the second quarter from 26.5% in the first quarter and by 2.98% compared to the same period a year earlier.