Tesla 1Q earnings 7 times more than year ago on strong sales

Published April 20, 2022 1:34 PM

By TOM KRISHER
AP Auto Writer

DETROIT (AP) — Tesla has reported first-quarter net earnings over seven times greater than a year ago. The electric vehicle and solar panel company reported strong sales despite global supply chain kinks and pandemic-related production cuts in China. Tesla made a record $3.32 billion from January through March. Excluding stock-based compensation, the Austin, Texas, company made $3.22 per share. According to data provider FactSet, that soundly beat Wall Street estimates of $2.26 per share. Revenue for the quarter was $18.76 billion, also beating estimates of $17.85 billion.

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