Tesla Inc. (TSLA) announced its latest financial results after the market close on Wall Street on Wednesday.

World’s largest automaker reported solid results for Q2 of 2022.

Revenue reported at $16.934 billion vs. $16.539 billion expected.

Earnings per share also exceeded Wall Street expectations at $2.27 per share vs. $1.81 per share estimate.

Tesla produced over 258k vehicles in the second quarter and delivered over 254k vehicles, despite supply chain challenges and factory shutdowns.

June was the highest vehicle production month in company’s 19 year history.

”We continued to make significant progress across the business during the second quarter of 2022. Though we faced certain challenges, including limited production and shutdowns in Shanghai for the majority of the quarter, we achieved an operating margin among the highest in the industry of 14.6%, positive free cash flow of $621M and ended the quarter with the highest vehicle production month in our history.”

”New factories in Berlin-Brandenburg and Austin continued to ramp in Q2. Gigafactory Berlin-Brandenburg reached an important milestone of over 1,000 cars produced in a single week while achieving positive gross margin during the quarter. From our Austin factory, the first vehicles with Tesla-made 4680 cells and structural battery packs were delivered to our U.S. customers. We are continuing to invest in capacity expansion of our factories to maximize production.”

”The Energy business made meaningful progress in Q2 as well, achieving higher volumes with stronger unit economics. This resulted in an overall record gross profit. Customer interest in our storage products remains strong and well above our production rate.”

”With each of the Fremont and Shanghai factories achieving their highest-ever production months and new factory growth, we are focused on a record-breaking second half of 2022,” Tesla said in a statement to shareholders.

Tesla Inc. (TSLA) chart

Share price was little changed at the end of the trading day on Thursday, up by 0.80% at $741.67 per share.

Here is how the stock has performed in the past year:

• 1 Month +5.00%
• 3 Month -23.89%
• Year-to-date -29.63%
• 1 Year +13.49%

Tesla price targets

• Credit Suisse $1000
• Barclays $380
• Morgan Stanley $1150
• Truist Securities $1000
• Wells Fargo $820
• JP Morgan $385
• Deutsche Bank $1125
• Mizuho $1150

Tesla Inc. is the 6^th largest company in the world with a market cap of $772.06 billion.

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Sources: Tesla Inc., TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap