Tesla stock has been my largest position since I returned to the stock market, and I remain bullish on Tesla's future. Does today's earnings release herald a big rally in Tesla's stock tomorrow?
According to Tesla's financial report for the first quarter of fiscal 2022, which ended on March 31, Tesla's total revenue in the first quarter was $18.756 billion, an increase of 81% from $10.389 billion in the same period last year, higher than analysts' Expected $17.92 billion; net profit attributable to Tesla common stockholders was $3.318 billion, an increase of 658% from $438 million in the same period last year; adjusted earnings per share of $3.22 were higher than analysts' expectations of $2.27 .
The increase in net profit was attributable to an increase in vehicle deliveries, an increase in the average bicycle selling price, a decrease in the cost of a bicycle, and an increase in the sales of regulatory points. In the first quarter, Tesla’s regulatory credit sales revenue was $679 million, up 31% year-over-year.
According to the financial report, Tesla’s automobile business revenue in the first quarter was 16.861 billion US dollars, compared with 9.002 billion US dollars in the same period last year, an increase of 87% year-on-year; the gross profit margin of the automobile business was as high as 32.9%, a year-on-year increase of 6.36 percentage points, a new record high.
In the first quarter, Tesla produced a total of 305,400 vehicles, a year-on-year increase of 69%; delivered 310,100 vehicles, a year-on-year increase of 68%.
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