(Dylan Calluy/Unsplash)
(The Street) â Teslaà(NASDAQ:TSLA) posted stronger-than-expected first quarter earnings Monday thanks in part to surging deliveries in China, notching its seventh-consecutive quarterly profit and forecasting late 2021 launches for planned gigafactories in the U.S. and Germany.
Tesla said non-GAAP earnings for the three months ending in March were pegged at 93 cents per share, well ahead of the Street consensus forecast of 79 cents per share and compared to a pre-split tally of $1.24 share over the same period last year. Automotive profit margins also impressed, rising 100 basis points to 26.5%.
Group revenues, Tesla said, rose 74.3% from last year to $10.39 billion, just ahead of analystsâ forecasts of a $10.3 billion tally. Regulatory credit sales Revenues, Tesla said, rose 46.3% from last year to $518 million.Â