Google trend - Tesla earnings

Tesla earnings - 10 things to know with detail

• Revenue: Tesla reported revenue of $10.39 billion for the quarter, surpassing analysts' expectations of $10.29 billion. This represents a 74% increase from the same quarter last year.
• Profit: Tesla reported a net income of $438 million for the quarter, marking its eighth consecutive profitable quarter. This is a significant improvement from the net loss of $16 million in the same quarter last year.
• Vehicle Deliveries: Tesla delivered 184,800 vehicles in the first quarter of 2021, beating analysts' expectations of 168,000 vehicles. This is a 109% increase from the same quarter last year.
• Model 3 and Model Y: Tesla's Model 3 and Model Y continue to be the company's best-selling vehicles, with deliveries of 182,847 units in the first quarter.
• Model S and Model X: Deliveries of Tesla's higher-end models, the Model S and Model X, were lower than expected at 2,020 units in the first quarter. Tesla cited supply chain challenges and a transition to new versions of these models as reasons for the lower deliveries.
• Gigafactories: Tesla is ramping up production at its Gigafactories in Texas and Berlin, with plans to start production later this year. These new factories will help Tesla increase its production capacity and meet growing demand for its vehicles.
• Energy Storage: Tesla's energy storage business saw strong growth in the first quarter, with revenue increasing by 71% year-over-year. Tesla's energy storage products, such as Powerwall and Powerpack, are becoming increasingly popular as more customers look to reduce their reliance on the grid.
• Bitcoin Investment: Tesla announced in February that it had purchased $1.5 billion worth of Bitcoin and would start accepting the cryptocurrency as payment for its vehicles. Tesla booked a $101 million gain from its Bitcoin investment in the first quarter.
• Regulatory Credit Sales: Tesla's revenue from selling regulatory credits to other automakers totaled $518 million in the first quarter. While this revenue stream has been a significant source of income for Tesla in recent quarters, the company expects it to decline over time as more automakers transition to electric vehicles.
• Outlook: Despite facing ongoing supply chain challenges, Tesla remains optimistic about its future growth prospects. The company reiterated its target of delivering 50% annual growth in vehicle deliveries over the next several years and expects to achieve a 50% annual growth rate in its energy business as well. Tesla also plans to begin production of its Cybertruck later this year and is on track to start production of its Semi truck in 2021.