Tesla stock: Carmaker cracks the $1 billion profit mark CNN 2 hrs ago By Chris Isidore, CNN Business © Justin Sullivan/Getty Images A Tesla car charges at a Tesla Supercharger station on April 26, 2021 in Corte Madera, California. Tesla will report first quarter earnings today after the closing bell. (Photo by Justin Sullivan/Getty Images)
Tesla posted record profits Monday its third record quarter in a row as its adjusted earnings reached the $1 billion mark for the first time.
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The company recorded $9 billion in total revenue. That was slightly lower than fourth quarter sales but up 75% from the year-earlier period.
Revenue was partly held back as it stopped building its two most expensive models, the Model S and Model X, during the quarter, as it prepared to roll out new versions of those vehicles and dealt with a shortage of computer chips that has dogged the entire auto industry.
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