Tesla profit hits $3.3b, blasting through expectations
First quarter growth comes as rapid expansion of manufacturing boosts sales
Image Credit: AFP
New York: Tesla reported another banner quarter of profit growth Wednesday as rapid expansion of electric vehicle (EV) manufacturing capacity boosted sales despite ongoing supply chain problems.
Elon Musk’s high-flying EV company reported first-quarter profits of $3.3 billion, up 658 per cent from a year ago on an 81 per cent jump in revenues to $18.8 billion.