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Tesla regulatory credits sales help drive to profitability

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An aerial view of the Tesla Fremont Factory on May 13, 2020 in Fremont, California.

Justin Sullivan | Getty Images

During a second quarter earnings call on Wednesday, Tesla CEO Elon Musk and CFO Zachary Kirkhorn told investors they hit an important milestone: four consecutive quarters of GAAP profitability. The electric vehicle maker stayed in the black, despite the effects of the Covid-19 pandemic, thanks to sales of regulatory credits.

According to its earnings report, Tesla’s total revenue hit $6.04 billion for the quarter, with about 7% of that, or $428 million, coming from sales of these credits. To put that in perspective, regulatory credit sales were greater than the company’s free…



Source cnbc.com

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