Tesla posted a record quarterly profit of $1.1 billion, as it largely evaded the effects of the chip shortage that has constricted the global auto industry
Tesla Inc.’s quarterly profit soared to record levels as the car maker largely evaded the effects of aThe company on Monday reported revenue of roughly $12 billion for the period ended June 30, nearly double the year-ago period, and a profit of $1.1 billion, its eighth sequential quarter in the black. Wall Street expected Tesla to report roughly $11.4 billion in revenue and around $600 million in profit, according to analysts surveyed by FactSet.
The Silicon Valley electric-car maker produced more than 206,000 vehicles in the second quarter, more than doubling its output from the year-ago quarter, when the rise of the Covid-19 pandemic limited production and consumer purchasing.
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