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Tesla announces record profits and revenue in the first quarter and surprises Wall Street Analysts

Tesla ended the first quarter of 2021 with profits of $413 million, up from $32 million a year earlier. Turnover also exceeded Wall Street estimates.

Tesla announces record profits and revenue in the first quarter and surprises Wall Street Analysts

Tesla announces record profits and revenue in the first quarter and surprises Wall Street Analysts (Image: Spiegel)

The results from the Tesla automaker were expected with anticipation, after announcing earlier this month that it made a total of 184,800 deliveries in this period, a record amount.

To that extent, sales were slightly higher than expected by Wall Street, reaching $10.39 billion, up from the $5.99 billion recorded in the same period last year.

The company founded by Elon Musk expects the growth in turnover to exceed 50%, having said that it is expected to start production and deliveries from the new plants in Texas and Berlin later this year.

Tesla’s quarterly accounts also reveal purchases of $1.2 billion in bitcoin.

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