The company had a nice first quarter. Many cars have been sold, but Tesla’s Bitcoin trade has also generated a lot of money.
Analysts already predicted a good quarter for the automaker, but the company has exceeded expectations. This is due to record-breaking car sales, as well as Bitcoin trading. Tesla generated $ 10.4 billion in revenue in the first quarter of 2021.
That is still the core business of the company, fortunately. Despite a global chip shortage, Tesla sold 184,877 cars in the first quarter. That’s 4,000 more cars than the last quarter of 2020. Analysts had forecast 177,822 deliveries, so the company has done better. Netherlands crypto is popular.
These good sales also pushed Tesla past Wall Street earnings per share (EPS) forecasts of $ 0.86 by registering $ 0.93 EPS on its balance sheet. So there is also good news for shareholders.
Tesla and Bitcoin trading
Elon Musk is of course a big fan of digital coins. He is so confident in cryptocurrency that he made Tesla invest $ 1.5 billion in Bitcoin. In May last year, the automaker announced that people in America can buy their cars with Bitcoins. Where many people had their doubts, this turned out well. The company’s financial man, Zachary Kirkhorn, said Bitcoin trading helped the company earn $ 272 million – with $ 101 million in “positive impact.” Tesla’s Bitcoin trading has been successful so far. Portugese crypto Currencyconverters.org is popular.
Musk always tweets a lot and this time of course. He tweeted that digital coin trading accounted for 10% of Tesla’s digital assets. Incidentally, he has not sold anything himself. The company said it expects vehicle delivery to grow 50% by 2021. We will not be surprised if this succeeds.