As we come into the next quarter of financial results reporting, Tesla is one group a lot of eyes are on in the technology sector, and it’s one of the early companies reporting. Tesla had a decent amount of wins coming into this quarter, but it also looks set to carry those wins into the next quarter with a decent supply of cash on its balance sheet – around $18 billion USD to be more specific.
This news comes from Tesla’s recent Q1 2022 earnings results release on April 20, 2022. On around Page 5 of Tesla’s official earnings report presentation, it includes various business details and highlights, one of which is the claim that the company has around $18 billion in cash on its balance sheet.
A decent supply of cash isn’t the only win Tesla has going for it. The company also reported a 32.9 percent automotive gross margin, and that was despite the claim that its supply lines are still being affected by COVID-19 complications this far into 2022. These various factors led to Tesla’s (TSLA) stock taking an upswing in after-hours trading. The stock was seen climbing over $1000 per share, as reported over on Yahoo Finance, and it has continued to remain on the high end following today’s market close.
With a decent supply of cash on hand going into its Q2 2022, Tesla continues to look strong for the foreseeable future. Stay tuned for more quarterly financial reporting here at Shacknews.
TJ Denzer posted a new article, Tesla (TSLA) now has $18 billion in cash on their balance sheet
soon they'll have enough to acquire Twitter
I hope the company's stock doesn't fall because of this.