The US electric vehicle manufacturer founded and led by Elon Musk, reported record net income of $1.14 billion in its fiscal second quarter. It goes on to add up to more than 1% on the stock exchange.

Tesla, the US manufacturer of electric vehicles such as the Model 3, announced tonight a net income of $1.14 billion in its fiscal second quarter, the first time it has hit the 10-figure mark in profits. This is with the application of accounting standards - the so-called GAAP.

This more than doubles the $438 million in profits recorded in the first quarter and is 10 times higher than the net income for the same period in 2020 (which was $104 million).

Without GAAP, profits rose to 1.6 billion, well above the 1.1 billion expected by analysts (and also well above the 1.1 billion achieved in the first quarter on this same indicator without accounting standards).

Adjusted earnings per share were $1.45, when the average estimate of analysts polled by Refinitiv was for earnings of 98 cents per share.

Revenues, meanwhile, amounted to $11.96 billion, above the $11.3 billion expected by market consensus.

Tesla also reported bitcoin-related impairments of $23 million.

"The automaker benefited from record sales and reduced internal costs to offset the increased cost of materials and bitcoin-related impairment," Karl Brauer, an analyst at iSeeCars.com, commented to CNN Business.

"Tesla's numbers, which beat estimates by a good margin, confirm that global demand for electric vehicles remains robust and is more than sufficient to offset the company's near-term challenges," he added.

Investors liked the numbers presented this Monday and are cheering the company on Wall Street's "after hours." Tesla follows up 1.25% to $665.87. In regular hour trading this Monday it closed up 2.21% to $657.62.

Earlier this month, Tesla announced that it produced 206,421 vehicles in the second quarter. Of those, the company delivered 201,250, almost 9% more than between January and March.