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AP National Business

Tesla posts record profits as its deliveries soared in 2021

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Published 3:31 PM

By TOM KRISHER
AP Auto Writer

DETROIT (AP) — Tesla Inc. has posted record fourth-quarter and full-year earnings. The results came as its vehicle deliveries soared last years 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. The company said in a letter to shareholders that there should be no doubt about the viability and profitability of electric vehicles. 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.

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