Tesla’s (NASDAQ:TSLA) second-quarter for 2021 saw the electric car maker post $11.958 billion in revenue. The results, which were discussed in the Q2 2021 Update Letter, were released after the closing bell on Monday, July 26.
Tesla’s second-quarter was impressive, with the electric car maker producing a total of 206,421 vehicles, an astounding number considering that Q2 was beset by a number of headwinds. The company also delivered 201,250 vehicles comprised of 199,360 Model 3 and Model Y, as well as 1,890 Model S.
Tesla’s strong Q2 results were due in part to the Model Y’s accelerating ramp in the United States and the all-electric crossover’s momentum in China. Tesla also finally started deliveries of the new Model S Plaid and Model S Long Range, which are high-margin vehicles.
The following are the key points in Tesla’s Q2 2021 Update Letter.
Tesla beat expectations for revenue in the first quarter, reporting a revenue of $11.958 billion for the second quarter. In comparison, Wall Street expected Tesla’s Q2 2021 revenue to be at $11.299 billion, with the highest estimates pointing to revenue of $12.827 billion and the lowest estimates pointing to $9.5 billion of revenue.
Tesla also beat expectations for earnings, with the company posting earnings per share of $1.45 in the first quarter. Wall Street, on the other hand, expected Tesla to report a gain of $0.98 per share.
Tesla’s Q2 2021 Update Letter could be accessed below.