Tesla silences criticism with net profit of $ 1.142 billion

Washington, Jul 27 (EFE) .- Tesla silenced its critics with net profits of 1,142 million dollars in the second quarter of the year, much higher than expected by analysts, and that allowed to close the first half of 2021 with benefits of 1,580 million dollars.

Tesla’s net profits in the second quarter of 2021 were 998% higher than those recorded in the same period of 2020.

Despite record net earnings, Tesla shares opened lower on Tuesday. Within minutes of the markets opening, the company’s shares were down 1.56% and trading at $ 647.31.

Tesla also explained that its revenues in the first half of 2021 were 22,347 million dollars, of which 11,958 million correspond to the second quarter.

The luxury electric car company said second-quarter revenue was 98% higher than in 2020, thanks to “substantial growth in vehicle delivery as well as growth in other parts of the company.”

Tesla produced 206,421 vehicles and delivered 201,304 in the second quarter, record numbers for the company that were 151% and 121%, respectively, higher than in 2020.

The company’s operating margin in the second quarter was 11%, up from 5.4% in 2020, and earnings per share were $ 1.02, up from $ 0.10 a year ago.

After the publication of the results, Tesla shares rose 3.2% after the close of the markets on Monday, up to $ 678.4, and on Tuesday, before the opening of Wall Street, the gains were located by 2.6%.

Tesla CFO Zachary Kirkhorn said in a conference call with analysts and the media on Monday that the net margin of the company’s auto business has risen nearly 10 percentage points since the Model 3 was launched, thanks to the fact that the reduction in the cost of vehicle production has been greater than the cut in prices.

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