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 (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.