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.
By Aditya Soni and Reshma Rockie George (Reuters) -Tesla shares surged about 10.5% in premarket trading on Wednesday after the electric-car maker eased some worries about slowing growth with a prediction that sales would rise this year and plans to roll out more affordable models in early 2025.
Tesla expects to book more than $350 million in costs in the current quarter for the mass layoffs it began last week, the automaker disclosed on Wednesday, as it shifts focus to more affordable models that it plans to introduce by early 2025.
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.
Doubts persist for Tesla as demand for electric vehicles slows, and as some critics contend that Elon Musk seems to be devoting more energy to other projects.
Tesla said on Tuesday it would introduce "new models" by early 2025 using its current platforms and production lines as it retreated from more ambitious plans to produce an all-new model that had been expected to cost $25,
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 and cut thousands more jobs to try to reverse its fortunes. The electric vehicle (EV) maker said on Tuesday it had made $1.
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.
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 reported its first quarter adjusted earnings plunged 48%, falling short of lowered Wall Street forecasts, but it assured investors that it plans to move ahead with a cheaper model due out next year.
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,
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 doesn’t seem to be able to catch a break right now. Whether it’s falling registrations as sales drop, or recalls of its flagship models, the electric vehicle maker is certainly having a time of it right now.
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 stock would likely have dropped after the Q1 earnings release had the EV maker not announced good news about the launch of more affordable vehicle models.
Tesla said on Tuesday it would introduce "new models" by early 2025 using its current platforms and production lines as it retreated from more ambitious plans to produce an all-new model that had been expected to cost $25,
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 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.
Tesla profits fell 55% to $1.13 billion in the first quarter from the same year-ago period as a protracted EV price-cutting strategy and "several unforeseen challenges" cut into the automaker’s bottom line.
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’s mass layoffs will hit the electric carmaker’s Fremont gigafactory and Palo Alto offices with 2,753 job cuts, according to state filings. The move is part of a broader 10% workforce reduction across the Elon Musk-led company,
Tesla said Tuesday it would introduce “new models” by early 2025, sending its shares soaring nearly 11% in after-hours trading. Tesla’s talk of new vehicles, which it said would include “more affordable models” using current production lines,
Tesla also blamed an arson attack at its German plant and factory downtime as it switched factories to an updated version of the Model 3 sedan. Excluding one-time items such as stock-based compensation,
Austin-based Tesla Inc. posted year-over-year declines in profit and revenue for the first quarter of 2024 as global electric vehicle sales have slowed amid a changing market. In results announced after markets closed Tuesday,