Tesla earnings, beats

Tesla beats - the firm delivered record units at higher prices in the quarter:

• Tesla 1Q revenue $18.8bn,expected $17.92bn
• Tesla 1Q Adj EPS $3.22 vs. 2.26
• Tesla 1Q Automotive gross margin +32.9%,expected +28.4%
• Tesla adj net income $3.22 vs $2.26 est

Tesla says its making progress on the industrialisation of the Cybertruck

Sees 50% average annual growth in deliveries of vehicles

The firm says its monitoring the situation Shanghai closely (ICYMI - the factory reopened there: Shanghai official says COVID-19 Covid-19 Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Read this Term outbreak in the city has shown a downtrend in recent days)

Says factories are likely to run below capacity for the rest of 2022, and expects supply chain challenges to persist through to year end also