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Tesla quarterly profit beats estimates; sells most of its bitcoin

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Reuters UK

By Hyunjoo Jin and Nivedita Balu (Reuters) – Tesla Inc on Wednesday reported a higher-than-expected quarterly profit as a string of price increases on its best-selling electric vehicles helped offset production challenges caused by COVID-19 lockdowns in China. The company promised a “record-breaking second half” to the year and reiterated its goal of 50% average annual growth in vehicle deliveries over a multi-year horizon, but did not give specific targets for 2022 deliveries in results materials. Shares of Tesla were up about 2% in after-hours trade. The shares are down about 40% since their…

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