And Tesla zooms, too

Tesla on Monday beat Wall Street expectations for second-quarter revenue on the back of record deliveries, despite the impact from a prolonged global shortage of chips and raw materials.

Shares of the world’s most valuable automaker were up 1.3 percent in extended trade.

Tesla said revenue rose to $11.96 billion from $6.04 billion a year earlier, when its US factory was shut down for more than six weeks due to local coronavirus lockdown orders.

Analysts had expected revenue of about $11.3 billion.