Tesla is one of the most lucrative companies in the world, and yet people still managed to underestimate it so far this year. The company recently posted a first-quarter profit that handsomely surpassed estimates, thanks to a shockingly high level of deliveries throughout Q1.
But although the profit was higher than expected, Tesla’s Q1 revenue managed to actually fall short of its expectations, which resulted in a slight 1% dip in late trading shares.
In terms of actual numbers, Tesla’s revenue in Q1 was $10.39 billion compared to the $10.42 billion that was estimated by Bloomberg. As far as adjusted earnings per share go, Tesla achieved 93 cents compared to the 80 cents that was estimated.
All in all, Tesla has a lot to be proud of regarding its performance so far this year. The company set a record when it delivered up to 184,800 vehicles in the first quarter alone, which mainly comprised of the Model 3 and Model Y, its more popular and affordable products. Despite the intense 2020 lockdowns stemmed from the coronavirus pandemic, 2021 has shown a slight economic growth with more consumers ready to get out and purchase new high-ticket items.
Leading the electric-vehicle market the world over, we wouldn’t be surprised if Tesla’s profits and revenue continue to soar throughout the remainder of 2021.
