Published , by Donovan Erskine
Published , by Donovan Erskine
Tesla (TSLA) has shared its Q1 2022 earnings report, showing that the company beat both revenue and EPS expectations. What’s more, this report gave us a closer look at just how the money was moving in the different facets of the company’s business. This includes a 32.9 percent automotive gross margin for Q1 2022.
It’s in the Q1 2022 Tesla (TSLA) earnings report that we see the company’s automotive gross margin numbers. Tesla also states that it plans to increase its manufacturing capacity in the near future. “We plan to grow our manufacturing capacity as quickly as possible. Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries. The rate of growth will depend on our equipment capacity, operational efficiency and the capacity and stability of the supply chain.”
On the news, as well as the release of the Q1 2022 earnings report, Tesla (TSLA) stock leaped over the $1,000 mark per share in after hours trading, as we can see on Yahoo Finance’s stock quote. When markets closed at 4 p.m. ET, Tesla (TSLA) shares were valued at $977.20.
Tesla’s (TSLA) massive automotive gross margin is certainly something to write home about. It’s just one of the fascinating tidbits that came out of the company’s jam-packed Q1 2022 earnings call. Here, the company also discussed the ongoing impact COVID has had on its business, as well as revealed the fact that it has $18 million in cash on its balance sheet. As we continue to monitor the most interesting Tesla stories, stick with Shacknews.