Tesla posts record profits as its deliveries soared in 2021
ABC News
Tesla Inc. has posted record fourth-quarter and full-year earnings
DETROIT -- Tesla Inc. on Wednesday posted record fourth-quarter and full-year earnings as deliveries of its electric vehicles soared despite a global shortage of computer chips that has slowed the entire auto industry.
The Austin, Texas, company made $5.5 billion last year compared with the previous record year of $3.47 billion in net income posted in 2020. It was the electric vehicle and solar panel maker's third straight profitable year.
“There should no longer be doubt about the viability and profitability of electric vehicles,” the company said in a letter to shareholders.
Tesla made $2.32 billion in the fourth quarter. Excluding special items such as stock-based compensation, the company made $2.54 per share. That beat Wall Street expectations of $2.36 per share. Revenue for the quarter was $17.72 billion, also ahead of analysts' estimates of $17.13 billion, according to FactSet.
