Tesla posted stronger-than-expected first-quarter earnings Monday thanks in part to surging deliveries in China, notching its seventh-consecutive quarterly profit and forecasting late 2021 launches for planned gigafactories in the U.S. and Germany.
"In Q1, we achieved our highest ever vehicle production and deliveries," Tesla said. "This was in spite of multiple challenges, including seasonality, supply chain instability and the transition to the new Model S and Model X. Our GAAP net income reached $438M, and our non-GAAP net income surpassed $1 billion for the first time in our history."
Jim Cramer and Tesla Daily host Rob Maurer discussed what the solar portion of the business means for Tesla.
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Disclosure: Rob Maurer is long TSLA stock and derivatives.