After the U.S. stock market closed on April 20, local time, Tesla, the leading electric vehicle company, announced its first-quarter 2022 results. Despite being dragged down by supply chain issues and high inflation, Tesla still delivered a satisfactory answer to investors, with both revenue and profit significantly exceeding market expectations. Boosted by the excellent financial report data, Tesla’s shares rose 5.57% after the market that day.
According to the financial report data, Tesla’s revenue in the first quarter of 2022 was US$18.756 billion, a year-on-year increase of about 81%. Among them, the automotive business revenue reached 16.9 billion US dollars, an increase of 87% year-on-year, and the rest of the revenue came from business segments such as solar products and services. The company’s first-quarter automotive gross margin was 32.9%, higher than market expectations of 28.4%.
Tesla said expanding production capacity was at the heart of the company’s decision-making. From March to April this year, the company began to start the delivery of Model Y from the Texas Gigafactory and the Berlin-Brandenburg Gigafactory, which means that Tesla’s production capacity will be further increased in the future.
Not afraid of supply chain and inflation challenges, Tesla’s first-quarter revenue surged 81%. Click on the video to see what it is!