Tesla Doubles Revenue and Reports Record Margins for Q1 2022

With a revenue increase of $18.7 billion USD despite inflation.

Automotive 
6,079 Hypes 4 Comments

Tesla has bested analysts’ expectations with the recent report of its Q1 2022 earnings.

CNBC reported that analysts estimated a $2.26 USD earnings per share and a revenue of $17.80 billion USD. However, Tesla surpassed these expectations with a reported earning per share of $3.22 USD and a revenue total of $18.76 USD. Automotive revenues increased by 87% from the same period last year to $16.86 billion USD while gross margins also saw a rise to a record 32.9%. Tesla also saw a gross profit of $5.54 billion USD in its main segment.

CEO Elon Musk expressed his confidence that 2022 would yet again be a landmark year for Tesla on the recent company earnings call. Musk believes that Tesla is capable of growing at least 50% over the numbers from last year. Despite supply-chain issues, Musk also claims that Tesla will be capable of producing 1.5 million cars in 2022.

The earnings call provided additional details to the long-awaited Cybertruck which Musk confirms will go on sale in 2023. He also assured consumers that he aims to rollout a beta of the Full Self-Driving technology throughout North America late this year. Musk however, declined to give details surrounding the “futuristic” robotaxi, but did allude that the company is currently working on the project and “aiming for volume production in 2024.” Q1 2022 also saw price increases across all Tesla models, as well as the removal of mobile connectors in its new vehicles.

In case you missed it, the MINI Cooper JCW is making a return in the 24-hour race at Nürburgring.

Read Full Article

What to Read Next

Tesla's Q1 2022 Deliveries Increase 68% Despite "Supply Chain Interruptions"
Automotive

Tesla's Q1 2022 Deliveries Increase 68% Despite "Supply Chain Interruptions"

Elon Musk called the quarter “exceptionally difficult.”

Tesla's "Phantom Braking" Issue Leads to Investigation by US Government
Automotive

Tesla's "Phantom Braking" Issue Leads to Investigation by US Government

The NHTSA has received a total of 354 complaints in under a year.

Elon Musk Reveals Details Surrounding Tesla's Upcoming Master Plan 3
Tech

Elon Musk Reveals Details Surrounding Tesla's Upcoming Master Plan 3

Including details about SpaceX, The Boring company and more.


Tesla Delivered Close to One Million Electric Vehicles in 2021
Automotive

Tesla Delivered Close to One Million Electric Vehicles in 2021

Doubling the number of Teslas delivered in 2020 to customers.

This Ichiraku Ramen Rice Cooker is for 'Naruto Shippuden' Fans
Food & Beverage

This Ichiraku Ramen Rice Cooker is for 'Naruto Shippuden' Fans

A real kitchen essential.

Take an Official Look at the adidas YEEZY Foam Runner "Sulfur"
Footwear

Take an Official Look at the adidas YEEZY Foam Runner "Sulfur"

Another earth tone release.

New Images of Michael Keaton's Batsuit From 'The Flash' Surfaces
Entertainment

New Images of Michael Keaton's Batsuit From 'The Flash' Surfaces

Complete with a yellow Bat symbol.

A$AP Rocky Posts $550,000 USD Bond After Arrest in Connection With 2021 Shooting
Music

A$AP Rocky Posts $550,000 USD Bond After Arrest in Connection With 2021 Shooting

The Los Angeles Police Department named the rapper a suspect.

Daily Paper Launches Its “Protect Paradise” SS22 Collection and Campaign
Fashion

Daily Paper Launches Its “Protect Paradise” SS22 Collection and Campaign

Supporting the Mauritian Wildlife Foundation.


Watch the Trailer for Machine Gun Kelly and Mod Sun's 'Good Mourning' Featuring Megan Fox, Pete Davidson and More
Entertainment

Watch the Trailer for Machine Gun Kelly and Mod Sun's 'Good Mourning' Featuring Megan Fox, Pete Davidson and More

Premiering in theaters and on-demand on May 20.

Wale To Re-Release 'More About Nothing' Mixtape on Streaming Services This Month
Music

Wale To Re-Release 'More About Nothing' Mixtape on Streaming Services This Month

Thanks to Jerry Seinfeld.

The Nike BE-DO-WIN “Multi-Color” Captures the Essence of Summer
Footwear

The Nike BE-DO-WIN “Multi-Color” Captures the Essence of Summer

Featuring a suede and mesh construction.

Crypto Payment Solution MoonPay Receives $87M Investment From Major Sports, Music Figures
Tech

Crypto Payment Solution MoonPay Receives $87M Investment From Major Sports, Music Figures

Representing industries that are on the verge of transformation by Web3 technology.

A 'Ghostbusters' Virtual Reality Game Is Coming to Meta Quest 2
Gaming

A 'Ghostbusters' Virtual Reality Game Is Coming to Meta Quest 2

Featuring an extensive campaign that can be played solo or with up to three friends.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Looks like you’re using an ad-blocker

We charge advertisers instead of our readers. Support us by whitelisting our site.

Whitelist Us

How to Whitelist Us

screenshot
  1. Click the AdBlock icon in the browser extension area in the upper right-hand corner.
  2. Under “Pause on this site” click “Always”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlock Plus icon in the browser extension area in the upper right-hand corner.
  2. Block ads on – This website” switch off the toggle to turn it from blue to gray.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlocker Ultimate icon in the browser extension area in the upper right-hand corner.
  2. Switch off the toggle to turn it from “Enabled on this site” to “Disabled on this site”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the Ghostery icon in the browser extension area in the upper right-hand corner.
  2. Click on the “Ad-Blocking” button at the bottom. It will turn gray and the text above will go from “ON” to “OFF”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the UBlock Origin icon in the browser extension area in the upper right-hand corner.
  2. Click on the large blue power icon at the top.
  3. When it turns gray, click the refresh icon that has appeared next to it or click the button below to continue.
screenshot
  1. Click the icon of the ad-blocker extension installed on your browser.You’ll usually find this icon in the upper right-hand corner of your screen. You may have more than one ad-blocker installed.
  2. Follow the instructions for disabling the ad blocker on the site you’re viewing.You may have to select a menu option or click a button.
  3. Refresh the page or click the button below to continue.