The company essentially beat inflation by replacing ingredients and relentlessly focusing on manufacturing. after Wednesday business

Shares are up, which offset losses seen earlier in the day by selling regulatory credits that Tesla enjoys because it's low-emissions

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produces more than its fair share of vehicles, contributed to the surprise. Credit sales in the first quarter were $679 million, roughly

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More than double the expectation of $312 million Analysts were forecasting a decline in earnings in the fourth quarter to the first quarter as inflation was moderated.

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What was considered a headwind for the company Tesla management cited inflationary pressures in its news release. But Tesla's per car

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Costs decreased compared to the fourth quarter. This was a surprise. Another reason for the drop in costs was that Tesla shipped in the first quarter.

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tesla earnings

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