Tesla Q1 2021 earnings report: profit streak continues

Tesla lineup Supercharging

Tesla has released their Q1 2021 earnings report and the automaker has posted another profitable quarter. This extends the record-breaking streak to seven consecutive quarters reporting positive cashflow.

Earlier this month Tesla posted preliminary numbers of 184,800 vehicle deliveries in the first three months of the year. With the report today, Tesla has revised that number to 184,877 vehicles.

Here are the key figures from today’s earnings report:

Earnings

Tesla shareholders saw earnings of $0.93 cents per share versus estimates of 80 cents.

Revenue

Tesla reported total revenue of $10.39 billion versus estimates of $10.42 billion.

Regulatory Credits

Tesla reported $518M in regulatory credit revenue, up 46% compared to Q1 2020.

Other news

Using data gathered from their internal trade in process, the automaker revealed that 98% of the people that move up to a Tesla give up an internal combustion engine (ICE) vehicle.
Tesla trade in data

Tesla Semi

Tesla has reiterated that Semi deliveries will begin in 2021.

Semi testing

Giga Shanghai

Tesla reports they have been able to improve their domestic supply sourcing ratio in China to over 90%, allowing them to increase margins at Giga Shanghai.

Giga Shanghai

Giga Texas

The company says construction is progressing quickly, and they have begun commissioning of equipment in certain areas of the factory.

Giga Texas factory

Shares of Tesla (TSLA) are down nearly 2% in after-hours trading following the release of the report.

TSLA shares Apr 26 2021

This is a developing story, refresh for updates…

About Darryn John 2948 Articles
Founder and Editor-in-chief of Drive Tesla Canada | Darryn@DriveTeslaCanada.ca Have a Tesla tip? Email tips@driveteslacanada.ca, or DM us on Twitter @DriveTeslaca