Tesla posts record quarterly revenue of over $10B

Tesla Inc posted record quarterly revenue of more than $10 billion for the first time in history in the October-December period last year, according to its financial results statement released Wednesday. 

The US electric vehicle maker saw its revenue soar to $10.74 billion in the fourth quarter of 2020, up by 45% from $7.38 billion in the same period of 2019.

Its net income also soared 157% to $270 million from $105 million during the period.

The Palo Alto-based company managed to produce a total of 509,737 vehicles during 2020, of which 179,757, or a staggering 35%, came in the final quarter.

Apple posts largest revenue ever

US tech company Apple also posted its largest revenue in a quarter ever in the last quarter of 2020.

The firm’s revenue broke a record with $111.4 billion in total sales in the October-December period, up by 21.3% from $91.8 billion in the same period of the previous year.

The majority of sales came from Apple’s iPhone devices, which generated $65.6 billion, up 17% from $55.9 billion in the last quarter of 2019.

The company’s net income rose to $28.7 billion from $22.2 billion for a 29% increase during the period.

Facebook

Social media firm Facebook’s revenue rose to $28.1 billion in the fourth quarter of 2020, a 33% increase from $21.1 billion in the same period of the previous year.

Its net income jumped by 53% to $11.2 billion from $7.3 billion during the same period.

Facebook said its daily active users totaled 1.84 billion on average for December 2020, an increase of 11% year-over-year, while its monthly active users rose 12% to 2.8 billion as of Dec. 31, 2020.