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Tesla Hits Record Profit Despite Parts Shortage

October 20, 2021

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Record electric vehicle sales last summer amid a shortage of computer chips and other materials propelled Tesla Inc. to the biggest quarterly net earnings in its history.

The company said Oct. 20 that it made $1.62 billion in the third quarter, beating the old record of $1.14 billion set in the second quarter of this year. The profit was over five times larger than the $300 million Tesla made in the same quarter a year ago.

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