Tesla revenues grow 81% from last year

Tesla CEO Elon Musk speaks during the official opening of the new Tesla electric car manufacturing plant on March 22, 2022 near Gruenheide, Germany.

The first-quarter earnings of the company were in line with analysts' expectations on the top and bottom lines. The key numbers are here.

• Earnings per share: $3.22 vs $2.26 expected
• Revenue: $18.76 billion vs $17.80 billion expected

The shares rose in after-hours trading.

The automotive revenue increased by 87% from the same period last year. The gross profit of $5.54 billion was reported byTesla in its main segment. The automotive revenue for the quarter was $689 million.

The closest approximation of sales disclosed by the company was reported early this month. Model 3 and Model Y vehicles made up 95 percent of deliveries in the period.

The earnings call on Wednesday coincides with the news that CEO Musk has made a hostile takeover bid for the social media platform.

Musk doesn't speak on every earnings call. He said that he would be on the call on Wednesday. Time.

The CEO appeared at both grand opening events for the new factories, which were opened outside of Berlin, Germany, and Austin, Texas.

Investments in these massive new facilities are part of the effort to lower the cost and improve the speed of distributing vehicles from factories to customers in major markets throughout Asia and Europe.

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