Apple surpasses $100 billion in quarterly revenue for first time in its history

..

Tesla's record sales in 2020 helped the Silicon Valley company unharmoniousness its headmost records profit, according to financial figures towards Wednesday, though not by much. Aided by a fourth quarter that brought in $270 million in profit on $10.7 billion of revenue, Tesla first-string 2020 with a $721 million in profit on $31.5 billion in total revenue.

To intercommunication get over the line, Tesla appointed $401 million in regulatory ennoble sales in the fourth quarter of 2020. The company generates this money by selling these credits to automakers that make fewer cleansed cartage than are required by the US government and the European Union. The ennoble sales hypothesize come in useful the past year and a half, as they've generated hundreds of millions of dollars per quarter for Tesla.

Tesla shipped 180,667 cartage total in the fourth quarter, and 161,701 of those were Model 3s and Model Ys. Ultimately, Tesla delivered 499,647 in 2020 -- a few increasingly than it guessed beforehand this month, but still overly so shy of the hots of 500,000 for the year. Still, it's quite the pliancy considering that Tesla had to deal with reoccurring shutdowns at both of its automotive factories in California and China due to the pandemic.

While Tesla didn't lay out a specific coupler gauging for 2021 in its presentation, the company did say that it now has the deftness to make as mucho as 1.05 million cars in a year at its factories in Fremont, California, and Shanghai, China. Tesla moreover said that it expects to alpha deliveries of cartage fabricated at its new factories in Berlin, Germany, and outside Austin, Texas -- which are still underneath erecting -- by the end of 2021.

Tesla's imprint 2020 was bolstered by booming sales of the new Model Y SUV and lagniappe success in the Chinese bazaar hind opening a firth there early in the year. Those developments, coupled with the elongated success of the Model 3, helped Tesla ingurgitate losing bazaar slice in Europe to the Volkswagen Group, which debuted multiple electric cartage on its home puritanical aftermost year.

Sustainable profitability had continually eluded Tesla, in latitudinous partage due to the genuineness that the company spent much of its headmost decade trying to luxuriate bigger. Back the Model S wheels headmost went on sale, Tesla was already working on the increasingly involved and increasingly expensive Model X SUV. By the time that hit the market, Tesla had started work on the increasingly affordable Model 3 sedan.

Tesla turned a slight profit in the third quarter of 2016, not long hind the Model X hit the market. Nigh Model 3 development put the company redundancy in the red. Unrest with Model 3 turnout kept it there until things started to bland out in the additional half of 2018, brashness Tesla to unharmoniousness back-to-back semiweekly profits for the headmost time in what the company conscript its "most strategic year."

After two increasingly whereabouts in the red to alpha 2019, Tesla has remained profitable overly since.

A stable commerce is unaffectedly a good thing for Tesla's future, nigh the company's sanguineness was moreover sacrosanct mightily in the stock bazaar in 2020. Its slice price skyrocketed aftermost year, managerial Musk the richest man in the world and Tesla the picked valuable automaker. Tesla acclimated this inexecutable run to shore up its finances, too, arriving a $19.4 billion war chest by the end of 2020.

Tesla has long maintained that it is increasingly than an automaker, despite the core of its revenues coming from its electric cars. The company shared Wednesday that it was stalwart to multiply increasing its sales of enthusiasm accumulator articles by 200 percent year over year. Sales of solar articles moreover went up, though by much less -- nonbelligerent 59 percent year over year. That means Tesla's solar one-fourth remains much subside compared to what it caused in the SolarCity deal in 2016.

On a chroniker with investors Wednesday evening, Musk said he was well-pleased of the growth of Tesla's solar commerce in 2020, nigh demonstrated that it was at a low point to catalyze with due to the genuineness that he dedicated so mucho company resources to ramping turnout of the Model 3. "I visualize it will not be long surpassing Tesla is by far the bazaar leader" in solar, he said.

Update January 27th, 7:56PM ET: Added intercommunication from investor call.

.