Tesla just released its financial report for Q2 2021 and the numbers are larger than anticipated — proving that it has what it takes to help accelerate society to energy sustainability — Tesla’s mission. We knew its second quarter was going to be pretty impressive, since it sold out of vehicles early in the quarter. But this is still a positive surprise.
Tesla noted that its total revenue reflected a 98% year-over-year growth in Q2, and credited the achievement to the growth in vehicle deliveries. Tesla’s operating income improved in Q2 to $1.3 billion, which resulted in an 11.0% operating margin.
The company noted that this profit level was reached while incurring SBC expense attributable to the 2018 CEO award of $176 million in Q2, which was driven by a new operational milestone becoming probable. Tesla stated that its operating income was increase year over year due to volume growth and cost reductions.
Tesla’s quarter-end cash and cash equivalents decreased to $16.2 billion in Q2. This was mostly due to net debt and finance lease repayments of $1.6 billion, partially offset by the free cash flow of $619 million. All in all, Tesla’s doing well and paying its debts while revolutionizing many industries.
Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Former Tesla Battery Expert Leading Lyten Into New Lithium-Sulfur Battery Era — Podcast:
I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps — gasp — grow. So ...