Tesla Inc. posted first-quarter net income of $438 million amid record global vehicle deliveries and favorable comparisons to 2020, when operations were temporarily halted by the coronavirus pandemic.
Revenue during the quarter jumped 74 percent to $10.4 billion, with automotive gross margins hitting 26.5 percent, the electric vehicle maker said Monday. The company was also aided by $518 million in sales of regulatory credits to competitors -- a 46 percent increase from the same period a year earlier.
Read Article