Tesla Vehicle Deliveries Rise Although Bitcoin Bet May Hurt Profits

Tesla Inc. posted its fifth consecutive quarter of vehicle delivery growth in a period where the company’s foray into cryptocurrencies could affect its bottom line.

The Silicon Valley electric carmaker delivered roughly 201,250 vehicles to customers in the three months ending in June, the company said Friday, more than double the 90,891 vehicles it placed with customers in the same period last year. Analysts forecast that Tesla will deliver about 207,000 vehicles in the period, according to FactSet.

Tesla delivered 184,877 vehicles in the first quarter.

The increase in vehicle shipments is expected to boost Tesla’s revenue for the quarter to about $ 11.4 billion, according to analysts surveyed by FactSet. Shares of Tesla rose about 1% early Friday.

Separately, on Friday, Ford Motor Co. reported a 26.9% drop in its June sales in the United States compared to the same month a year earlier, reflecting the impact the automaker has experienced during the global shortage of semiconductor chips.

Source: WSJ

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