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Monday, 26 July 2021 22:31

Tesla Q2 2021 Earnings Report: Big Profits Again

Written by Eric Loveday, Inside EVs

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Tesla just released its Q2 2021 earnings report and the numbers are impressive.

Tesla again turned a profit, which makes that eight quarters in a row. And once again, Tesla beat expectations.

 

The main financial details from the Q2 2021 report are as follows:

 

  • $11.958 billion in revenue
  • $1.45  profit per share (Non-GAAP)

 

And here's what Tesla was expected to report, according to analysts.

 

  • Profit per share: ~$0.94 to $1.01 per share
  • Revenue: ~$11.5 to $11.6 billion

 

Additionally, Tesla reports an operating cash flow of $619 million in Q2.

 

"In the second quarter of 2021, we broke new and notable records," Tesla said. "We produced and delivered over 200,000 vehicles, achieved an operating margin of 11.0% and exceeded $1B of GAAP net income for the first time in our history."

 

Tesla previously released its Q2 2021 delivery and production numbers. For Q2 2021, Tesla listed Model 3/Y deliveries at 199,360. Meanwhile, the combined Model S and Model X deliveries hit just 1,890.

 

Tesla previously stated: "In the second quarter, we produced and delivered over 200,000 vehicles. Our teams have done an outstanding job navigating through global supply chain and logistics challenges.

 

Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q2 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more."

 

We thank Inside EVs for reprint permission.