Tesla Inc. shares rose, erasing their decline for the year, after the carmaker reported better-than-expected earnings and Elon Musk predicted production will grow at a fast clip for the rest of 2022 despite supply chain challenges.
The first major U.S. automaker to report financial results for the first three months handily beat estimates with a record quarterly profit. While Tesla cautioned that it remains constrained by shortages of materials and components -- a common refrain for automakers plagued by bottlenecks of parts such as semiconductors -- its ability to overcome obstacles is setting itself apart.
