Tesla has reported its net income for the quarter at $1.14 billion, the first time it has crossed $1 billion.
Last year, the company earned $104 million in net income.
During the quarter ended June 30, 2021, the electric car maker recorded 201,250 electric vehicle deliveries and 206,421 total vehicle manufacturing.
Sales of regulatory credits accounted for only $354 million, or roughly 3.5 percent, of total automotive revenue of $10.21 billion.
This is a lower credit number than any of the prior four quarters.
Meanwhile, gross margins in the automotive industry were 28.4 percent, greater than in any of the previous four quarters.
The company’s energy segment, which includes solar photovoltaics and energy storage systems for homes, businesses, and utilities, generated $801 million in revenue, up more than 60% over the previous quarter.
In addition, Tesla reported $951 million in revenue from services and other sources.
The company currently has 598 stores and service facilities, as well as a mobile service fleet of 1,091 vehicles, up 34 percent from a year ago.
While Tesla does not reveal how many energy storage units it sells each quarter, Musk recently stated that the business will only be able to create 30,000 to 35,000 units at most during the current quarter, blaming the delay on chip shortages.
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