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 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
