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.

Why the meme-stock frenzy is unlikely to repeat

Published

5 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

5 days ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

6 days ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending