Tesla has released its Q1 2021 Financial Report that shows tremendous performance, growth, and revenue from the clean energy company and a stronghold for earnings as a manufacturer. Apart from its $10.39 billion in revenue, Tesla has also announced that it overcame a chip shortage, with the new Model S and Model X coming soon.
The first quarter of the year is usually a make or break for the company's annual performance and it could dictate what could happen for its popularity and patronage of its products. But for Tesla to absolutely crush it, is a big win for the electric vehicle manufacturer and clean energy company, despite the many controversies and drawbacks for them.
Recently, the company has been entangled in an issue that questions the safety of its Autopilot feature, after it has been allegedly reported to take the life of 2 passengers who allegedly went driverless with the feature. This came after the Q1 safety report of Tesla, saying that the Autopilot was safer than ever, and it features 10 times more safety than an average vehicle.
Tesla Q1 2021 Earnings Report
Tesla has released a Q1 2021 Financial report that highlights the company's earnings for the first four months of the year, as April is coming to an end. Tesla has been through a lot, and that includes Dogecoin and Bitcoin entanglements, Texas Winter Storm, Model S release and shortage, and other happenings.
Four months in, and the company has reported a great performance in this year's beginning.
Tesla has made a massive improvement in revenue, as it achieved $10.39 billion in total, after its $438 million record-breaking net income right off the bat. This led to a surge in stock and popularity of the company, having almost 94 cents per share.
According to CNBC, the company has surpassed most of the analysis and expectations from them this year, leading to an impressive performance in both the industry and market. Tesla has also sold 184,800 electric vehicles that consisted mainly of the refreshed Model 3 and Model Y which exceeded expectations.
Tesla Bitcoin: Was It a Good Investment?
Additionally, Tesla's Bitcoin purchase during the start of the year has proven to be a great investment that is worth $101 million, with speculations that the reported $272 million revenue came from its trading. The "digital assets" of the company that resulted from trading were said to be the cryptocurrency's trading over the past months.
Tesla Model S Coming in May, Model X to Follow
On the other hand, Tesla also faced a chip shortage among other industries like the PS5 and Xbox Series X, but it has overturned it and prevailed during the first quarter. Now, the company has announced that the refreshed Model S that saw a limited release is now coming in May, and the Model X speculated to be a Plaid version, is coming later this year.
This article is owned by Tech Times
Written by Isaiah Richard