DETROIT (AP) — Tesla reported Wednesday that its first-quarter net earnings were over seven times greater than a year ago, powered by strong sales despite global supply chain kinks and pandemic-related production cuts in China.
The electric vehicle and solar panel company made $3.32 billion from January through March. Excluding special items such as stock-based compensation, the Austin, Texas, company made $3.22 per share. That soundly beat Wall Street estimates of $2.26 per share according to data provider FactSet.
Revenue for the quarter was $18.76 billion, also beating estimates of $17.85 billion. It was boosted by multiple price hikes meant to […]