Tesla has released its Q2 2021 Earnings report, and it is only the preliminaries as it has not yet completed its full showcase of the investor relations presentation.
However, as early as now, Tesla has shared that it has won a lot, particularly with record earnings of $1.1 billion for the second quarter alone, along with $66 million more than its expected revenue.
A lot of Tesla's products have been showcased in this report, and it mainly focused on the sales of its electric vehicles which has contributed a lot to the total. It was known that Tesla has recently jacked up the prices of its Model Y and Model S for as much as $5,000.
Tesla Q2 Earnings Report
"You win some, and then you lose some," but more on that later. Overall, as Tesla shared on its recent live stream, this second quarter is a massive win for the EV company. Most of the industries that Tesla is in, like the electric vehicle and clean home energy has generated positivity for its report, amidst its investors.
Tesla is currently shaping up as one of the most prominent Big Tech of the present times, lining up with that of Google, Apple, Facebook, and more. Elon Musk's company is more than a car company, as its venture focuses on providing clean energy, among others.
The EV revolution has given the company its massive break, having as much as $1.1 billion of sales in the quarter alone. The EV company has had a pretty good year so far, as Tesla's Q1 earnings report has also featured a high for Tesla, shaping up to be a good future.
Tesla Wins: Earnings, Revenue, Shares
The press release also featured that instead of 98 cents per share in expectations, it rose to $1.45 for earnings. This only shows that people believe in the stocks of Tesla, and have been pouring a lot of their investments towards the name led by its eccentric and billionaire CEO.
In terms of revenue, the company has generated $11.96 billion which far exceeds its expected $11.30 billion total for this quarter. The excess sums to as much as $660 million for the company, and its total revenue excess a massive one for them.
Tesla's report on the end of June showed its deliveries that totaled 206,421 units that were sold and turned over to customers, which is seen already as a precursor to a great quarter.
Tesla Bitcoin: Massive Loss
Despite this massive win for Q2, Tesla has also reported its losses, and it mainly focused on the $23 million impairment from Bitcoin.
The cryptocurrency is known to weaken as of this moment despite clinging to the top spot. Tesla's billion-dollar investment in the coin has not grown into fruition as its value depleted earlier this year.
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Written by Isaiah Richard