5 Companies Making Noise After Posting Their Earnings Reports

1. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 91

Electric vehicle (EV) giant Tesla, Inc. (NASDAQ:TSLA) is once again in the headlines after announcing record financial results for the first quarter. The latest performance is also impressive considering the supply chain challenges the company faced in the quarter.

Nevertheless, Tesla, Inc. (NASDAQ:TSLA) overcame those hurdles partly by increasing the prices of its vehicles. The company reported adjusted earnings of $3.22 per share, crushing the consensus of $2.26 per share. The record quarterly revenue of $18.76 billion also topped analysts’ average estimate of $17.80 billion with a big margin.

Tesla, Inc. (NASDAQ:TSLA) shares jumped more than six percent in the mid-day trading session on Thursday, April 21, 2022, following the results.

Among other updates, Tesla, Inc. (NASDAQ:TSLA) reported that its automotive revenue climbed 87 percent versus last year to $16.86 billion. In addition, its automotive gross margins also climbed to a record 32.9 percent.

Overall, Tesla, Inc. (NASDAQ:TSLA) delivered more than 310,000 vehicles during the three months ended March 31, representing a surge of 68 percent over the first quarter of 2021. This year, the company plans to grow the total deliveries by at least 50 percent over last year.

Discussing the manufacturing operations, Tesla, Inc. (NASDAQ:TSLA) said in a statement:

“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. Our own factories have been running below capacity for several quarters as supply chain became the main limiting factor, which is likely to continue through the rest of 2022.”

You can also take a peek at 10 Favorite Stocks of Billionaire Izzy Englander and 10 Undervalued Dividend Kings To Buy In 2022.

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