- July 27, 2021
- Posted by: Stratford Team
- Category: Business
Strategic Wealth Partners Luke Lloyd discusses Tesla stock on ‘Making Money’
Tesla has blown past Wall Street expectations with its second-quarter earnings results, making history with a net profit exceeding $1 billion for the first time. During the quarter, the company produced and delivered over 200,000 vehicles and achieved an 11% operating margin.
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The electric vehicle maker’s second quarter profit came in at $1.14 billion, or $1.02 per share, compared with $104 million or 10 cents a share, a year ago. Adjusted for one-time items, Tesla earned $1.45 a share, compared with 44 cents a share a year ago.
Total revenue came in at $11.9 billion, a 98% year-over-year increase, thanks to substantial growth in vehicle deliveries and other parts of the company’s business. Overall automotive revenues came in at $10.21 billion, of which only $354 million came from sales of regulatory credits. As for its energy and…
