Tesla's first-quarter net income plummeted 55% as falling global sales and price cuts sliced into the electric vehicle maker's revenue and profit margins
The company’s shares rose in after-hours trading following news that the EV maker is looking to bring new models to market sooner than previously planned.
Tesla has seen its profits more than halve this year, and says it will bring forward the launch of new models and cut thousands more jobs to try to reverse its fortunes. The electric vehicle (EV) maker said on Tuesday it had made $1.
Faced with falling global sales and a diving stock price, Tesla has slashed prices again on some of its electric vehicles and its “Full Self Driving” system in an apparent effort to boost the company's earnings growth.
After a rough quarter, Elon Musk’s car company is expected to post its first revenue drop in four years. It was a big weekend for Tesla, with the company announcing price drops on a number of its vehicles as well as its full self-driving software.
Profits from Tesla’s energy business were up 140 percent compared with the same period last year, and Musk asserted yesterday that the division will continue to grow “significantly faster than the car business.
A Tesla investor who successfully sued to void Musk's $56 billion pay package has asked a Delaware judge to keep the lawsuit in the state, after the company asked shareholders to approve moving the electric vehicle maker's legal home to Texas.
The Tesla CEO scrapped plans to build his low-cost car using a revolutionary new technique, opting to save money and bring the model to market sooner to reignite growth.
The EV maker's quarterly profit plunged, but Chief Executive Elon Musk sought to assuage some concerns by underscoring Tesla's commitment to [bringing out less-expensive cars](
Tesla Chief Executive Elon Musk may have given investors what they wanted with promises of a more affordable vehicle coming soon, but those promises may lead to more pain for investors. On Tuesday, Tesla did not specify a price tag for what it is calling an affordable EV,
Tesla has seen its profits more than halve this year, and says it will bring forward the launch of new models as it cuts thousands of jobs to try to reverse its fortunes. The electric vehicle (EV) maker said on Tuesday it had made $1.
The EV maker’s profit plunged to its lowest level since 2021 as pressure mounted on Elon Musk to better articulate his vision for the electric-car maker.
Earnings miss notwithstanding, momentum continued to build for Tesla's stock, which was rallying 11% in after hours trading. That's in large part because the EV maker said it plans on adding to its lineup and marketing a cheaper EV as early as next year,
Tesla has seen its profits more than halve this year, and says it will bring forward the launch of new models and cut thousands more jobs to try to reverse its fortunes. The electric vehicle (EV) maker said on Tuesday it had made $1.
Much of Tesla's earnings call is focused around the company's reprioritization of making fully autonomous cars work. Chief Executive Elon Musk underscored that in comments to analysts. "If somebody doesn’t believe Tesla is going to solve autonomy,
But even resolving every safety concern may not stop Tesla’s entire EV business from becoming a hazard. Yesterday afternoon, the world’s most valuable car company released its earnings report for the first quarter of 2024,
Tesla stock is tracking toward its best day in 27 months, a rally following a pretty brutal Q1 earnings report as investors bought into the growth game plan laid forth by Musk and company.
Tesla shares surged 11% during premarket trading Wednesday after CEO Elon Musk said the company plans to produce new affordable EV models by early 2025.
Tesla’s woes to start 2024 are many and ongoing — but that doesn’t mean the world’s most valuable automaker is stopping. Tesla stock soared as high as 16% in after-hours trading Tuesday, after Elon Musk’s electric vehicle company reported quarterly earnings that revealed a 9% year-over-year revenue decline — its biggest drop since 2012.
Tesla CEO Elon Musk is expected to face pointed questions from investors on these numbers, as well as recent reports that the company has paused development of a new, low-cost “
By the time Elon Musk held a conference call with Wall Street on Tuesday night, he had spent most of the last year on the defensive. The call was nominally to discuss Tesla’s historically bad earnings that saw net income drop 55 percent last quarter.
If you were asked to name the car maker that’s having the worst week, would it take you more than a few seconds to shout out Tesla? There’s little competition right now, as the struggling automaker deals with bodged recalls,
Tesla stocks jumped on Tuesday after Elon Musk promised “more affordable” electric vehicle models following a drop in the company’s revenue in the first quarter by about nine per cent. The company’s revenue dropped to $21.
Tesla's sales are down. It's slashing car prices and laying off staff. Yet CEO Elon Musk remains bullish on a future that's self-driving and battery-powered.
Elon Musk’s electric vehicle maker’s revenues have fallen to $21.3bn, the largest decline since 2012. It is a far cry from 2021 when company became first automaker valued at more than $1 trillion
Tesla reported a big drop in quarterly profits Tuesday, pointing to elevated pressure on the electric vehicle market that has led to deep cost-cutting.
Tesla’s stock soared by more than 11% Wednesday after CEO Elon Musk said the company would accelerate the rollout of more affordable electric vehicles in hopes of boosting sagging profits. Musk’s announcement was aimed at calming nervous investors on Wall Street who were still trying to digest the company’s most recent earnings report,
Tesla saw a 9 percent year-over-year decline in first-quarter revenue, the electric vehicle (EV) company said Tuesday. The drop in revenue, Tesla’s largest since 2012, comes as the EV firm faces falling sales and growing competition.
Tesla said Tuesday it had pulled forward the launch of new models, sending its shares up 6% in trading after the bell. “We have updated our future vehicle line-up to accelerate the launch of new models ahead of our previously communicated start of production in the second half of 2025,
Tesla's Q1 earnings report shows a drop in revenue, deliveries, margins, and EPS, but highlights plans for new mass-market models and a robotaxi platform.
Tesla has long been the king of the electric vehicle market, and EV sales are famously slowing down. But Musk's company has a bigger problem. "EV sales are slowing," The New York Times said. "Tesla's are slumping.
Tesla reported a big drop in quarterly profits Tuesday, pointing to elevated pressure on the electric vehicle market that has led to deep cost-cutting.