Tesla has another record quarter in tumultuous period for Elon Musk

Tesla smashed Wall Street estimates for revenue and profit in another record quarter on Wednesday, despite a tumultuous few months for its CEO, Elon Musk, and ongoing supply chain concerns.

The electric car manufacturer reported $18.8bn in revenue for Q1 of 2022, up 81% from a year earlier. The report beat analyst expectations of $17.8bn, sending Tesla shares up 4% in after hours trading.

Those issues have been exacerbated by Covid-19 outbreaks, chip shortages, and the crisis in Ukraine. Tesla has in response raised prices of its products in China, the US, and other countries.

There are concerns that Musk may sell some Tesla stocks or borrow against additional Tesla shares to finance his $43 bid to buy Twitter.

The results also come amid several legal challenges for the founder and his company. On Wednesday, Musk requested a federal judge allow him to speak freely about a lawsuit accusing him of deceiving Tesla shareholders, which was settled this week. The settlement included a gag order that Musk and his attorneys called unconstitutional. Tesla is also facing multiple discrimination lawsuits.