Tesla Stock Is Up Despite Inflation Crushed Tesla Earnings Expectations

Elon Mask offered guidance for the rest of 2022.

Elon Mask offered guidance for the rest of 2022. Now the third quarter earnings of the Tesla company have been quite spectacular. 

Shares are seen rallying after Wednesday's trading, which seems to be making up for the losses seen earlier in the day. 

The Tesla Company has essentially beaten inflation by substituting materials and relentlessly focusing on manufacturing. 

The Tesla company said it posted impressive earnings per share of $3.2, or $2.86, for the first quarter and put in 4838 million in the prior period, or 839 cents per share in a year.

Tesla said revenue rose 81% from $10.39 billion a year ago to now $18.6 billion, due to higher average car prices and increased vehicle sales.

Analysts polled by FactSet expected the Tesla company to now report adjusted earnings of $2.26 per share on sales of $17.85 billion. 

Elon Musk said on the call, I have never been more optimistic and excited about the future than I am. 

Elon Musk said on the call, "We don't explicitly demand-limit, we're production-limited and very much production-limited.

" Elon Musk said Tesla is working on a new vehicle, a "dedicated robotic taxi", that will have a "high priority for autonomy", with no steering wheel or pedals.