Electric carmaker Tesla beat Wall Street expectations for second-quarter revenue and profit on the back of record deliveries, despite the impact from a prolonged global shortage of chips and raw materials $TSLA
posted a bigger second-quarter profit than expected on Tuesday thanks to higher sales of its less-expensive electric vehicles, as it raised vehicle prices and cut costs.
Musk said Tesla has "many calls at midnight, 1 a.m., just with suppliers about resolving a lot of the shortages." Tesla said it has delayed the launch of its Semi truck program to 2022 to focus on starting factories and due to limited availability of battery cells and other parts this year.The TESLA logo is seen outside a dealership in the Brooklyn borough of New York City, U.S., April 26, 2021. REUTERS/Shannon StapletonMusk did not give a timeframe for when Tesla will start mass production of its new-generation batteries and its much-anticipated Cybertruck.
The carmaker, led by the billionaire entrepreneur, said revenue jumped to $11.96 billion from $6.04 billion a year earlier, when its California factory was shut down for more than six weeks due to local lockdown orders to fight the pandemic.Excluding items, Tesla posted a profit of $1.45 per share, easily topping analyst expectations for a profit of 98 cents per share.
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