ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Technology

Tesla makes record profit despite China headwind and chip crunch

Shanghai factory becomes company's main vehicle export hub

Tesla CEO Elon Musk will no longer attend every earnings call, starting next quarter, the tech billionaire announced Monday.    © Reuters

PALO ALTO, U.S. -- Tesla reported record profit for the second quarter on Monday, defying supply challenges and headwinds in China.

For the three months ended June, Tesla reported $11.96 billion in revenue, up 98% year over year. The Elon Musk-led EV maker registered a record net profit of $1.14 billion in the quarter, nearly ten times the $104 million during the same period last year. It is the first time Tesla reached $1 billion in net income and its eighth sequential profitable quarter.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more