Tesla stock jumped 5% in after-hours trading Wednesday after the electric vehicle maker beat Wall Street estimates for the first quarter of 2022 with record revenue 

The company posted total revenue of $18.8 billion, up 81% year-over-year. Total automotive revenue came in at $16.86 billion, up 87% from the same period last year 

Regulatory credits accounted for $679 million of automotive revenue for the quarter. Operating income improved to $3.6 billion during the quarter, resulting in a 19.2% operating margin.

Tesla cited continued challenges around its supply chain during the quarter that limited its ability to run factories at full capacity 

including chip shortages, COVID-19 outbreaks and multiple-fold price increases in some raw materials due to inflation.  

In March, vehicle production began at Gigafactory Berlin-Brandenburg using nonstructural packs with 2170 cells.  

In April, Tesla began delivering Model Y vehicles from its new factory in Austin Texas as well as its first vehicles with 4680 in-house made cells 

Despite strong weekly production rates during the quarter, the company's Shanghai factory temporarily shut down due to a spike in COVID cases