(Tesla) Electric Vehicle maker Tesla Inc. earned $1.14 billion in new income or $1.45 EPS in the second-quarter, up from $104 million a year ago.
The net income was higher than expected $0.98 EPS and the first time the company has surpassed the $1 billion mark.
The net earnings were reported from a revenue of $11.96 billion, more than expected $11.30 billion.
The EV maker’s automobile revenue was $10.21 billion, with only 3.5% of it coming from sales of regulatory credits.
Energy business, which includes solar photovoltaics and energy storage systems, generated a revenue of $801 million, a more than 60% jump from last quarter.
Services and other revenues came at $951 million, with the EV maker now operating 598 stores and service centers.
The company’s cash position fell by 5% from the first quarter to $16.23 billion, driven by net debt and finance lease repayments.
Tesla reported a $23 million impairment relating to bitcoin holdings.
TSLA: NASDAQ is up +1.84% on premarket.
