Tesla (TSLA) hit another milestone when it reported Q2 earnings on Monday, as quarterly net income exceeded $1 billion for the first time in the company’s history. The figure came in at $1.14 billion, amounting to more than a tenfold increase on the $104 million the company reported in the same period last year. Tesla also posted beats across the board. Revenue increased by 98% from the same period last year to reach $11.96 billion, ahead of the consensus estimate by $560 million. Non-GAAP EPS of $1.45 came in $0.47 above the Street’s forecast. At 28.4%, Auto Gross margins were well ahead of the analysts’ 25.
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Tesla (NASDAQ:TSLA)
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