Tesla withstood disruption to production in China and the high costs of scaling up new plants in Texas and Germany to report a 57 per cent jump in adjusted earnings per share in its latest quarter.
The company’s second-quarter results brought a degree of relief after the electric carmaker had warned of production and supply strain stresses. Revenue, at $16.9bn, was up 42 per cent from the year before, though the figure fell slightly short of the $17.1bn Wall Street had been expecting.
Tesla also revealed that it had largely unwound last year’s contentious $1.5bn bet on bitcoin, as it converted three-quarters of its stake into fiat currencies in the face of tumbling cryptocurrency prices.
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