Tesla Shares Up After Another Record Breaking Financial Results 

Apr 21, 2022 By MarketDepth

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Tesla, Inc. (NASDAQ: TSLA) shares jumped more than 10% Thursday after the electric car manufacturer announced financial results for the first quarter of 2022, which was another record quarter for the Company a by several measures such as revenues, vehicle deliveries, operating profit and an operating margin of over 19%. 

Operating Income at $3.6 Billion

Tesla’s operating income improved to $3.6B in Q1, resulting in a 19.2% operating margin. This profit level was reached while incurring SBC expense attributable to the 2018 CEO award of $48M in Q1. YoY, operating income was primarily impacted by growth in vehicle deliveries, reduced cost (COGS) per vehicle despite inflationary pressures, lower stock-based compensation expense and other factors. 

Cash Position Increased

Quarter-end cash, cash equivalents and short-term marketable securities increased sequentially by $0.3B to $18.0B in Q1, driven mainly by free cash flow of $2.2B, partially offset by debt repayments of $2.1B.

Mobile App Upgraded

In addition, in Q1, we added mobile app controls for climate control modes (Dog Mode, Camp Mode, Bioweapon Defense Mode and Cabin Overheat Protection), enabled users to customize the color of their vehicle in the UI with metallic and matte finishes and brought Disney+ to more countries worldwide. We also improved charging time estimation accuracy by accounting for battery temperature and allowed child lock to be engaged on individual rear doors — left, right or both.