Tesla Q2 2021 Earnings: $1.1 Billion Net Income, $11.9 Billion Revenue
Tesla has announced its quarterly earnings for Q2 2021 and the company has “broke new and notable records.” Tesla saw a total of $11.9 billion in total revenue for Q2.
The electric automaker achieved an operating margin of 11% and exceeded $1 billion of GAAP net income for the first time in its history, despite supply chain challenges such as worldwide semiconductor shortages and port congestion.
“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,” said the company’s update.
“With global vehicle demand at record levels, component supply will have a strong influence on the rate of our delivery growth for the rest of this year,” added Tesla.
Total revenue grew surged 98% year-over-year in Q2, achieved through the delivery of over 206,421 vehicles.
“Public sentiment and support for electric vehicles seems to be at a never-before-seen inflection point. We continue to work hard to drive down costs and increase our rate of production to make electric vehicles accessible to as many people as possible,” explained the company.
…developing, more to follow