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Tesla exceeds expectations with its results and rebounds 7% on Wall Street

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Tesla It rose 7% in the Wall Street after-hours market, which records trading after the close of the regular session, outperforming consensus forecasts with its first-quarter results.

The electric car maker founded by Elon musk It has posted a profit of $ 16 million despite being forced to close its factories in the United States and China due to the Covid-19 pandemic.

The positive earnings per share (EPS) of 9 cents It has exceeded the forecast for a negative EPS of up to $ 1.66, which was being handled by analysts. Furthermore, the revenues have rebounded 32%, to almost 6,000 million dollars, above the 5,840 million anticipated.

Tesla has confirmed that during the quarter it manufactured 102,672 vehicles and delivered 88,496 units, in the best first quarter of its history. The gross margin has risen to 25.5% from 22.5% in the fourth quarter and 20.2% in the same period last year.

The company has highlighted that "gross margin has remained solid" despite the closure of the factories by the Covid-19 and that the production of its Shanghai factory has boosted the volumes and margins of the Model 3. Furthermore, the Model Y It has contributed to the firm's profits, the first time in history that a new product is profitable in the first quarter.

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