As we come into the next quarter of financial results reporting, Tesla is one group a lot of eyes are on in the technology sector, and it’s one of the early companies reporting. Tesla had a decent amount of wins coming into this quarter, but it also looks set to carry those wins into the next quarter with a decent supply of cash on its balance sheet – around $18 billion USD to be more specific.
This news comes from Tesla’s recent Q1 2022 earnings results release on April 20, 2022. On around Page 5 of Tesla’s official earnings report presentation, it includes various business details and highlights, one of which is the claim that the company has around $18 billion in cash on its balance sheet.
A decent supply of cash isn’t the only win Tesla has going for it. The company also reported a 32.9 percent automotive gross margin, and that was despite the claim that its supply lines are still being affected by COVID-19 complications this far into 2022. These various factors led to Tesla’s (TSLA) stock taking an upswing in after-hours trading. The stock was seen climbing over $1000 per share, as reported over on Yahoo Finance, and it has continued to remain on the high end following today’s market close.
With a decent supply of cash on hand going into its Q2 2022, Tesla continues to look strong for the foreseeable future. Stay tuned for more quarterly financial reporting here at Shacknews.