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Tesla Gains as First $1 Billion Quarter Adds Earnings Momentum

  • Analysts laud strong auto margin in face of supply issues
  • Carmaker says Texas, German plants on track for 2021 output
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Breaking Down Tesla's Better-Than-Expected Earnings
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Tesla Inc. reported better-than-expected earnings as record sales of its electric vehicles fattened margins and carried the company to a first $1 billion quarter of net income in its 18-year history.

Profit more than tripled to $1.45 a share on an adjusted basis, beating the 97-cent average of analysts’ estimates and marking the eighth straight quarter of profit. Tesla shares rose as much as 2.6% before the start of regular trading Tuesday.