Tesla 2021 - Q2 results

30.07.2021

On July 26th, Tesla reported its second-quarter results. These reports surprised everyone because the electric vehicle maker managed to make a profit of more than $1 billion in just three months.

The company made $1.14 billion of net income in its second-quarter which is 10 times more than in the same period last year when their net income reached $104 million.

We prepared an infographic where you can see detailed information about the sources of revenue.

Automotive revenue came in at $10.21 billion, of which only $354 million, about 3.5%, came from sales of regulatory credits.
From the Energy business, Tesla reported $801 million in revenue. This includes solar photovoltaics and energy storage systems for homes, businesses and utilities, and it is 60% up from last quarter.
They reported $951 million in services and other revenues. Tesla now operates 598 stores and service centres, and a mobile service fleet including 1,091 vehicles, which is an increase of 34% in comparison to a year before.

As you can see in our infographic the revenue increase of this company was accompanied by an increase in stock prices. Only a year ago, the price of one Tesla share was slightly lower than $300, and today, its value is more than twice as high. After the report was released their stock price continued to go up with its current being $646.98.

Tesla Expects Even Better Results

Tesla's appetite is not satisfied with these results and they are already making plans to achieve even better ones. The report was followed by a statement that the electric car producer plans to expand its manufacturing capacity as fast as possible. It expects to achieve 50% average annual growth in vehicle deliveries over multiple years to come.

Tesla's next earnings report is expected to be published on October 19th, 2021.

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