Tesla’s income surpasses $1b for first time in Q2

Tesla’s net income surpassed the $1 billion mark in the second quarter of 2021 for the first time in the company’s history, according to financial results released on Monday.

The American electric carmaker saw $1.14 billion net income attributable to common stockholders, which was up over tenfold from the same period of last year when it was just $104 million.

Total revenue came at $11.96 billion in the second quarter of this year – up 98% from $6.04 billion in the same period of 2020.

California-based company managed to produce over 206,000 vehicles during the April-June period, which was up from some 82,000 vehicles produced in the second quarter of 2020.

The energy storage firm also managed to have $801 million in revenue in the second quarter from energy generation and storage, according to its financial results released after the closing bell on the New York Stock Exchange.

Tesla’s stock price climbed to as high as $676.42 per share after the final bell on Monday when it closed at $657.62 with a 2.2% daily gain.

Article source: https://nation.com.pk/27-Jul-2021/tesla-s-income-surpasses-dollar-1b-for-first-time-in-q2