Tesla reported a bump in Q2 profits despite production issues in Texas and China.
on Wednesday reported a rise in quarterly profit, as a string of price increases on its best-selling vehicles helped offset production challenges, sending its shares up 4% in extended trading.
Tesla said it has converted approximately 75% of its bitcoin purchases into fiat currency, which added $936 million of cash to its balance sheet. Total revenue fell to $16.93 billion in the second quarter from $18.76 billion a year earlier, ending its streak of posting record revenue in recent quarters, as it struggled to meet demand for itsAnalysts were expecting revenue of $17.10 billion, according to IBES data from Refinitiv.
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