Tesla Inc reported record vehicle shipments for the second quarter that were in sync with Wall Street expectations, as the electric-car maker dealt with a semiconductor bottleneck and depended on sales of its lower-priced models.

Tesla fared better than traditional automakers during the global supply crisis, but CEO Elon Musk has cautioned of difficulties in obtaining semiconductors and raw materials.

Now, all eyes are on Tesla's second-quarter income to see if recent declines in bitcoin prices will have a negative impact on the company's bottom line owing to Tesla's exposure to the cryptocurrency's unpredictability.

During the second quarter, Tesla also sold a total of 201,250 cars. According to Refinitiv statistics, analysts projected Tesla to deliver 200,258 cars.

“This was a strong quarter in terms of quantity, but I consider it a minor disappointment,” said Garrett Nelson, an equity analyst at CFRA Research.

The company's stock was trading flat after jumping much as 3.3% in early trading on Friday.

Tesla supporters applauded the outcome. “The Street was prepared for terrible news this morning, but the bulls received an early July 4th weekend pleasant surprise,” said Dan Ives, an analyst at Wedbush Securities.

Tesla stated, "Our employees have accomplished a fantastic job maneuvering through the global supply chain and logistical problems."

The figures indicated that robust deliveries of its lower-priced Model 3 sedans and Model Y crossovers offset a decline in the delivery of its higher-end Model S and X versions.

Tesla had hiked car pricing in recent months, which its billionaire CEO, Elon Musk, blamed in May on "significant supply chain price pressure," particularly raw materials.

In early June, he also stated, "Our biggest problem is the supply chain, particularly microcontroller chips." It's unlike anything I've ever seen.”

As per RBC, the “worst could be over for Tesla” in terms of chip scarcity, however, the potential margin effect from wider supply chain tightness would last the rest of the year.

Tesla earned 99% of its sales from the Model 3 and Model Y, although now the Model S's updated version was just unveiled in June after many delays.

Overall deliveries of Tesla's higher-priced Model S and X vehicles decreased to 1,890 from 2,020 in the previous quarter, as per the company.

A Tesla Model S Plaid electric vehicle, which costs $129,990, caught fire as the owner was driving on Tuesday, only three days after it had been delivered. When Reuters contacted Tesla, the company did not respond immediately.

Tesla shipped 21,936 Model 3 and Model Y vehicles to Chinese customers in May, recovering from a sales dip in April but remaining far short of March figures. Its June China sales would be disclosed in the preceding days.

In China, a key growth area for Tesla, the firm is facing increased competition from domestic EV manufacturers and more monitoring from authorities and the general public.

Last week, Chinese officials said that Tesla will ‘recall' roughly 300,000 China-made and imported Model 3 and Model Y vehicles for an online software update linked to assisted driving.

Analysts believe that sharp decreases in bitcoin prices might potentially have an impact on Tesla's second-quarter revenues.

Tesla revealed their $1.5 billion bitcoin investment on February 8th. Through the selling of 10% of its bitcoin assets, it earned profits in the first quarter.

However, the transaction exposes Tesla equities to unpredictable cryptocurrency values, which have recently fallen.

“Tesla stock price has been fairly strongly correlated with bitcoin pricing,” Nelson said, adding that this impacts investor confidence despite bitcoin representing a small percentage of Tesla's total cash.

Its biggest feature might've been broadcasted, but a smaller, calmer ‘hybrid' Mobile World Congress (MWC) has given others confidence that in-person gatherings may flourish in the face of a pandemic.

There have been no drunken parties for all those who did make it to Barcelona, with far fewer such meetings than in past years and the sole alcohol on sale designated for hand sanitizing.

A negative COVID-19 test, an FFP2 face mask, and a digital contact-tracing badge became must-haves at this week's MWC for the 30,000 or so who filed through its testing booths and followed a one-way traffic pattern to limit infection risk.

An army of volunteers inspected contact monitoring passes at every booth, whereas others stood at every corner warning guests who were not keeping adequate distance or whose face masks had dropped to obey the guidelines.

The pandemic halted the events sector, which covers conferences and concerts and was valued at $1.14 trillion in 2019 by Allied Market Research.