November 27, 2021

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Chip shortages don't slow Tesla: Sales increased by $5 billion

Chip shortages don’t slow Tesla: Sales increased by $5 billion

It emerges from the latest quarterly report published after the close time on Wall Street today.

Up front, a sample of analysts expected revenue to be $13.9 billion as the median estimate. The result was slightly lower, closing at $13.76 billion. This is a 57 percent increase over the same quarter of 2020.

Among analysts, there was great confidence in Tesla. 22 out of 49 analysts gave the stock a buy recommendation.

Last year, a global supply crisis hit the auto industry. Nor did Tesla get rid of it, which a few weeks ago thanked customers for their patience. Tesla wrote that there were also several challenges for the company this quarter, including several microchips and delays in ports.

Already in its second quarter quarterly report, the company announced the same, although it held back Musk’s machines to a lesser degree than competitors.

According to the quarterly report, the company produced 237,823 cars and delivered 241,391 cars.

broken records in q2

Earlier this year, the company set several new records. Among other things, Telsa has produced and delivered more than 200,000 vehicles and an operating margin of 11 percent. This is despite the auto industry’s problems with both supply chains and global chip shortages.

This week, a number of Wall Street giants are submitting quarterly reports. Yesterday, Netflix was able to report strong subscriber growth, largely due to the huge success of “Squid Game”

The company received an increase of 4.4 million paying users for the quarter. In advance, the consensus of analysts was an expected increase of 3.7 million users, according to Yahoo Finance, while Netflix itself had forecast 3.5 million in its previous quarterly report.

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Netflix now has 214 million users.

Netflix revenue was $7.5 billion in the first quarter, up from $7.48 billion. The stock rose 0.16 percent on Tuesday, pending results, but is up about 18 percent so far this year.(Terms)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using a link that leads directly to our pages. All or part of the Content may not be copied or otherwise used with written permission or as permitted by law. For additional terms look here.