Tesla Vehicle Deliveries Rise Though Bitcoin Bet May Dent Earnings – The Wall Street Journal

Tesla Inc. notched its fifth straight quarter of vehicle-delivery growth in a period when the company’s foray into cryptocurrency could hit its bottom line.

The Silicon Valley electric-car maker handed over roughly 201,250 vehicles to customers in the three months ending in June, the company said Friday, more than double the 90,891 vehicles it placed with customers in the year-ago period. Analysts forecast Tesla would deliver around 207,000 vehicles in the period, according to FactSet.

Tesla delivered 184,877 vehicles in the first quarter.

The increase in vehicle shipments is expected to boost Tesla’s revenue in the quarter to around $11.4 billion, according to analysts surveyed by FactSet. Tesla shares traded up around 1% early Friday.

Separately on Friday, Ford Motor Co. reported a 26.9% drop in its June U.S. sales compared to the same month a year ago, reflecting the impact the auto maker has experienced during a global shortage of semiconductor chips.