Tesla crushes its critics, beats Wall Street expectations in its first-quarter earnings report
Elon Musk’s Tesla continues to silence its critics after the electric car giant reported $18.8 billion in the first quarter versus the $17.92 billion expected. Tesla beat Wall Street’s expectations in its earnings report. Below are the key numbers.
Earnings per share: $3.22 vs $2.26 expected
Revenue: $18.76 billion vs $17.80 billion expected
The electric giant was rewarded for its Q1 performance as shares rose more than 5% in after-hours trading. During the quarter, Tesla delivered 310,048 vehicles, the closest approximation of sales disclosed by the company. Model 3 and Model Y vehicles comprised 95%, or 295,324, of deliveries in the period ending March 31, 2022.
The latest earnings call comes just a few days after CEO Elon Musk offered $43 billion to buy 100% of Twitter, the social media platform he has relied on to promote Tesla and his own public image for years.
Meanwhile, Musk no longer leads or speaks on every Tesla earnings call. He said earlier today that he plans to be on the call, which starts at 5.30 p.m. ET.
This is a developing story; please check back for updates.