Tesla notched a third straight quarterly profit, beating expectations, due in part to the electric-car maker's ability to navigate supply-chain disruptions
notched a third consecutive record profit, thanks in part to the electric-vehicle maker’s ability to navigate persistent global supply-chain disruptions.
“A variety of challenges, including semiconductor shortages, congestion at ports and rolling blackouts, have been impacting our ability to keep factories running at full speed,” Tesla said in its earnings release. Tesla shares have soared in recent weeks, closing Wednesday around $866, near their record close of $883.09 in January. The stock fell less than 1% in after-hours trading after the company posted results.“We are seeing significant cost pressure in our supply chain,” Chief Executivesaid at the company’s annual shareholders’ meeting earlier this month. “The sheer amount of money we’re spending on flying parts around the world is just not great but hopefully temporary.
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