Tesla Vehicle Deliveries Rise Though Bitcoin Bet May Dent Earnings

Tesla Inc. notched its fifth straight quarter of vehicle-delivery progress in a interval when the corporate’s foray into cryptocurrency may hit its backside line.

The Silicon Valley electric-car maker handed over roughly 201,250 automobiles to prospects within the three months ending in June, the corporate stated Friday, greater than double the 90,891 automobiles it positioned with prospects within the year-ago interval. Analysts forecast Tesla would ship round 207,000 automobiles within the interval, based on FactSet.

Tesla delivered 184,877 automobiles within the first quarter.

The improve in car shipments is predicted to spice up Tesla’s income within the quarter to round $11.4 billion, based on analysts surveyed by FactSet.

Separately on Friday, Ford Motor Co. reported a 26.9% drop in its June U.S. gross sales in comparison with the identical month a yr in the past, reflecting the affect the auto maker has skilled throughout a world scarcity of semiconductor chips.

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