Tesla profits rise to a new record

Published

3 years ago

October 21, 2021

Brittany Coles

Tesla’s profit has more than quadrupled this quarter to a new high of 1.6 billion dollars, amid chip shortages and supply chain troubles

Unlike other car makers, Tesla’s sales rose during the third quarter.

#BREAKING Tesla record revenue and profits – more than quadruples to $1.6 in 3Q #TESLA #ElonMusk #TSLA pic.twitter.com/wMS98A41W1
— ticker NEWS (@tickerNEWSco) October 20, 2021

This has set a new company record, despite chip shortages and supply chain challenges weighing on the entire industry.

The record results were driven by improved gross margins on its automotive business.

This is the second time in Tesla’s history that revenue earnings have surpassed $1 billion.

Just In the year-ago quarter, net income was at $331 million.

Tesla also generated $806 million from its energy business, including its solar and energy storage products for homes and utilities.

Gross margins were improved by 30.5 per cent on its automotive business and 26.6 per cent overall, both of which are records for at least the last five quarters.

Reported under “restructuring and other” expenses, Tesla also reported a $51 million impairment related to its investment in bitcoin.

Research key to investment success

Published

17 hours ago

May 6, 2024

ticker NEWS

What is the importance of research in the investing and super landscape in Australia?

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Peter Green, Director of Research at Lonsec Research. #wyld money

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Why “stagflation” will be the greatest financial threat of 2024

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May 6, 2024

Nathan Langridge

With inflation soaring and economic growth tapering off, concerns about stagflation are on the rise

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Mark Wyld from MW Wealth joins to unpack what defines “stagflation”. #featured

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Unpacking crypto ‘prop trading’

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3 days ago

May 4, 2024

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What is crypto proprietary trading and how can it benefit you?

Bitcoin 101 is an exciting talk show that educates viewers on safe participation in crypto markets, providing timely updates and expert insights for informed decision-making.

Hosted by the Managing Director of Crypto Calls, Cheyne Kupfer.

In this episode, Cheyne sits down with Growth Partner at Crypto Calls, Jack Birkinshaw to talk all things prop trading.