September 19, 2021

Tesla's quarterly profit exceeded $ 1 billion for the first time

Tesla's quarterly profit exceeded $ 1 billion for the first time

American electric vehicle maker Tesla reports quarterly profit in excess of 1 billion dollars.

Record shipments of electric vehicles during this period allowed Elon Musk's company to generate profit of $ 1.14 billion for the quarter, up from $ 104 million in the same quarter last year.

Musk described the profit as “reallyincredible, "but cautioned that growth for the remainder of the year" will be driven by a slow supply chain. " In addition to the semiconductor shortage that is plaguing automakers around the world, Musk also pointed to shortages of lithium and other raw materials.

The company's profit also declined slightly due to a decrease in the value of bitcoin assets by $ 23 million.

Tesla's energy division made $ 801 million in revenue.

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