Tesla racks up another profitable quarter with boost from regulatory credits

Illustration by Alex Castro / The Verge

Tesla made a profit of $331 million in the third quarter of 2020, its fifth straight profitable quarter and sign that the electric automaker is hitting its stride. This quarter’s profit is more than double that of the third quarter last year.

Tesla generated $8.771 billion in revenue, buoyed by $579 million in energy storage sales and $581 million in services revenue. Tesla once again wasn’t purely profitable based on its sales, though. It also sold $397 million worth of regulatory credits in the quarter, a decrease from the record $428 million in credits it sold during Q2 of this year.

Tesla delivered 139,300 vehicles this quarter, beating the company’s previous record of 112,000 vehicle…

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via The Verge – All Posts

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