Apr 2, 2022 - Economy

Elon Musk touts Q1 results despite "exceptionally difficult quarter"

Erin Doherty

Tesla CEO Elon Musk is pictured as he attends the start of the production at Tesla's "Gigafactory" on March 22, 2022 in Gruenheide, southeast of Berli — Tesla CEO Elon Musk at the production of Tesla's "Gigafactory" on March 2 in Gruenheide, Germany, southeast of Berlin. Photo: Patrick Pleul - Pool/AFP via Getty Images

Tesla CEO Elon Musk said Saturday that "supply chain interruptions" and China's zero-COVID policy made for an "exceptionally difficult quarter."

Driving the news: Tesla produced 305,407 vehicles and delivered over 310,048 vehicles during the first quarter, "despite ongoing supply chain challenges and factory shutdowns," according to Business Wire.

"Outstanding work by Tesla team and key suppliers saved the day," Musk wrote in a tweet on Saturday.

Catch up quick: Tesla's fourth-quarter earnings in 2021 beat Wall Street estimates, reporting $17.72 billion in revenues and $2.54 earnings per share.

Tesla last year also said supply chain constraints were the "main limiting factor" in vehicle production, Axios' Ben Geman reports.

What to watch: Tesla will post its financial results for the first quarter of 2022 on April 20.

Go deeper: 3 takeaways from Tesla's big quarter

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Elon Musk touts Q1 results despite "exceptionally difficult quarter"

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