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7/26, 10:06 PM (Source: TeleTrader)
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Tesla Q2 revenue beats estimates at $12B

Tesla published its earnings report for the second fiscal report on Monday, with revenue at $11.9 billion, beating analyst expectations and marking a 98% increase compared to the same period of last year. GAAP earnings per share soared by 920% year-on-year to $1.02.

"We produced and delivered over 200,000 vehicles, achieved an operating margin of 11.0% and exceeded $1B of GAAP net income for the first time in our history. Supply chain challenges [...] continued to be present in Q2. The Tesla team, including supply chain, software development and our factories, worked extremely hard to keep production running as close to full capacity as possible," Tesla's official release said.

Quarter-end cash and cash equivalents stood at $16.2 billion, which is 88% higher than the figures for the second quarter of last year, but over 5% less than the last three-month period. Total production of electric vehicles in the second quarter amounted to 206,421, which is 151% higher than during the comparable period of 2020.

Following the report, Tesla stocks rose 1.58% to sell for $667 per share in the after-hours trading.

Breaking the News / LH