Tesla Inc, TL0:STU summary - FT.com - Markets data

The Financial Times reports that Tesla, Inc., a multinational corporation headquartered in Austin, Texas and Palo Alto, California, has recorded a net income of $260 million for the first quarter of 2021, compared to a loss of $395.8 million in the same period last year. The company's total revenue surged 74% from last year's $10.4 billion to $17.7 billion this year, driven by its automotive business and energy generation and storage segments.

Tesla's automotive segment saw a rise in sales of its Model 3, Y, S, X, and Cybertruck models, while its energy generation and storage segment includes the design, manufacture, installation, sales and leasing of solar energy generation and energy storage products and related services and sales of solar energy systems incentives. The company's lithium-ion battery energy storage products include Powerwall and Megapack.

The financial report also revealed that Tesla has a cash balance of $16.5 billion at the end of Q1 2021, up from $8.9 billion at the same time last year.