4/26, 10:09 PM (Source: TeleTrader)
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Tesla: Q1 total revenues at $10.4B, up 74% YoY

Tesla Inc. reported on Monday that its total revenues for the first quarter of fiscal 2021 stood at $10.4 billion, 74% higher compared to the same time span a year ago. Automotive revenues amounted to $9 billion in the first three months of 2021, marking a surge of 75% from the corresponding trimester in the previous year, while net income skyrocketed by 2,638% year-on-year to $438 million in the opening quarter.

Diluted earnings per share (EPS) attributable to common stockholders were 1,850% up on an annual basis, reaching $0.39 in the first quarter. Tesla produced 180,338 vehicles in the opening three months, 76% more year-over-year, while it made 184,877 deliveries, representing a 109% annual jump.

"First deliveries of the new Model S should start very shortly, Model Y production rate in Shanghai continues to improve quickly and two new factories Berlin and Texas are making progress," the carmaker said in the press release.

Tesla's stock declined 1.58% in after-hours trading following the release of the report.

Breaking the News / MS