2023-07-20 06:46:15
Tesla Factory Fremont – California
Tesla electric car company revealed that it recorded record revenue in the April-June period of $ 24.9 billion, driven by an increase in deliveries due to price cuts approved by the company.
Revenue was expected to be $24.48 billion, according to Refinitiv data.
On an adjusted basis, Tesla earned 91 cents per share. Analysts had expected a profit of 82 cents per share, according to Refinitiv data.
The results of the electric car maker’s business showed that net income amounted to $ 2.7 billion in the three months ending in last June, an increase of 20 percent compared to the same period of the previous year.
The company posted operating margins of 9.6 percent, the lowest in the past five quarters.
The company maintained its production target for this year at regarding 1.8 million electric cars. Tesla reported 466,140 car deliveries during the reported quarter, and said it produced 479,700 electric cars.
Tesla shares rose in following-hours trading, up 0.2 percent, at $219.9.
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