- Title: Tesla beats quarterly revenue estimates
- Date: 26th July 2021
- Summary: SAN FRANCISCO, CALIFORNIA, UNITED STATES (FILE) (REUTERS) MUSK DURING INTERVIEW WITH REUTERS REPORTERS SEOUL, SOUTH KOREA (FILE - JULY 2020) (REUTERS) TESLA LOGO ON VEHICLE CHARGING STATION LOS ANGELES, CALIFORNIA, UNITED STATES (FILE - JANUARY 12, 2018) (REUTERS) VARIOUS OF TESLA MODEL 3 WOMAN INSIDE TESLA MODEL 3 VARIOUS OF TESLA MODEL 3 VARIOUS OF PEOPLE LOOKING AT TELSA MODEL 3 TESLA SHOWROOM EXTERIOR FREMONT, CALIFORNIA, UNITED STATES (FILE - MAY 8, 2020) (REUTERS) VARIOUS OF FLAGS OUTSIDE OF TESLA FACTORY 15 TESLA LOGO ON FACTORY PEOPLE ON TESLA'S FACTORY PARKING LOT, STANDING NEXT TO CHARGERS AND TESLA VEHICLES VARIOUS OF TESLA'S FACTORY ENTRANCE WITH TESLA LOGO TESLA SIGN ON TESLA FACTORY
- Embargoed: 9th August 2021 21:04
- Keywords: Elon Musk Tesla earnings electric car maker results shares stock
- Location: SAN FRANCISCO, + LOS ANGELES, + FREMONT, CALIFORNIA, UNITED STATES, HANAM, + SEOUL, SOUTH KOREA, UNKNOWN LOCATIONS
- City: SAN FRANCISCO, + LOS ANGELES, + FREMONT, CALIFORNIA, UNITED STATES, HANAM, + SEOUL, SOUTH KOREA, UNKNOWN LOCATIONS
- Country: USA
- Topics: Company News Markets,Economic Events,United States
- Reuters ID: LVA003ENHBBK7
- Aspect Ratio: 16:9
- Story Text: Electric carmaker Tesla Inc on Monday (July 26) beat Wall Street expectations for second-quarter revenue on the back of record deliveries, despite the impact from a prolonged global shortage of chips and raw materials.
Shares of the world's most valuable automaker were up 1.3% in extended trade.
Despite the pandemic and the supply chain crisis that have marred the auto industry, Tesla earlier this month was able to post record deliveries during the quarter, although it heavily relied on sales of its cheaper models including Model 3 sedans and Model Y crossovers.
The carmaker, led by billionaire entrepreneur Elon Musk, said revenue rose to $11.96 billion from $6.04 billion a year earlier, when its U.S. factory was shut down for more than six weeks due to local lockdown orders aimed at curbing the spread of the coronavirus.
Analysts had expected revenue of about $11.3 billion, according to IBES data from Refinitiv.
(Production: Aleksandra Michalska)
- Copyright Holder: FILE REUTERS (CAN SELL)
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