Tesla’s Q2 Net Income Soars Tenfold to $1 Billion

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Tesla Inc (NASDAQ:TSLA) reported a second-quarter net income of $1.14 billion, nearly ten times the $104 million reported in Q2 last year. It is the first time the firm has reached the billion-dollar mark in any quarter. Q2 2021 hedge fund letters, conferences and more Automotive BusinessAccording to CNBC, Tesla reported $10.21 billion in automotive revenue, “of which only $354 million, about 3.5%, came from sales of regulatory credits.” Automotive gross margins hit 28.4%, “higher than in any of the last four quarters.” The result stems from the 201,250 electric vehicle deliveries and the 206,…

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