Tesla Stock Rallied 7% in Premarket Trading

Tiger Newspress2022-04-21

Tesla stock rallied 7% in premarket trading. Tesla said it earned $3.2 billion, or $2.86 a share, in the first quarter, compared with earnings of $438 million, or 39 cents a share, in the year-ago period.Tesla Inc. late Wednesday reported another record quarter of sales and profit, blowing past Wall Street estimates even though it said its factories continue to run below capacity due to supply-chain problems.

On a post-results call with investors, Chief Executive Elon Musk focused on some of the more futuristic endeavors for Tesla $(TSLA)$, such as promising a new "robotaxi" vehicle in two years, and kept mum about his proposal to buy Twitter.

Musk made a $43 billion bid for the social-media company last week

Tesla said it earned $3.2 billion, or $2.86 a share, in the first quarter, compared with earnings of $438 million, or 39 cents a share, in the year-ago period.

Adjusted for one-time items, the EV maker earned $3.22 a share.

Revenue rose 81% to $18.6 billion from $10.39 billion a year ago, thanks to higher average car prices and growth in vehicle sales, the company said.

Analysts polled by FactSet expected the company to report adjusted earnings of $2.26 a share on sales of $17.85 billion.

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Comments

Sienta
2022-04-23
Sienta
That's fantastic
CCLaunty
2022-04-21
CCLaunty
👍👍👍
Goldox
2022-04-21
Goldox
Good results!
Nick82
2022-04-21
Nick82
Wow
Josh7
2022-04-21
Josh7
👍
tigernaut
2022-04-21
tigernaut
👍

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