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In the second quarter, TSLA’s quarterly profits hit $1 billion for the first time. Driven by strong demand for both the Model 3 and Y, the company achieved record production and deliveries. Plus, the construction of its Berlin and Texas gigafactories is on track.
The company had $16.2 billion in cash on hand at the end of the most recent quarter. This compares favorably to short-term debt of only $1.1 billion. Earnings were up 232.6% year over year and analysts expect earnings to rise 81.6% year over year in the current quarter.
