RIVN - Tesla rallies after margins impress despite supply chain pressures

Tesla (NASDAQ:TSLA) jumped in after-hours trading after powering through supply chain issues and late-quarter disruption in Shanghai to comfortably top estimates with its Q1 earnings report. The company generated $3.3B in GAAP net income during the quarter and $3.7B in non-GAAP net income. The automaker reports it produced 305,407 vehicles in Q1 (+69% Y/Y) and delivered 310,048 vehicles (+68%). Operating margin shot up to 19.2% of sales to improve from last quarter's mark of 14.7%. Automotive gross margin excluding regulatory credits was 30.0% vs. 27.7% consensus and 29.2% last quarter. Tesla (TSLA) said it plans to grow its manufacturing capacity as quickly as possible and reiterated that over a multi-year horizon, it expects to achieve 50% average annual growth in vehicle deliveries. The rate of growth will depend on equipment capacity, operational efficiency and the capacity and stability of the supply chain. Tesla (TSLA) noted that its own factories have

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Tesla rallies after margins impress despite supply chain pressures