Tesla saw revenue drop 20% in Q1.
Transcript:
Tesla revealed its latest earnings report and it was a really rough first quarter for the EV maker. The company missed on both its top and bottom lines, with auto revenue plummeting 20%. Total revenue came in at almost $2 billion less than Wall Street anticipated — a 9% year-over-year drop.
In its presentation to investors, Tesla said, “uncertainty in the automotive and energy markets continues to increase as rapidly evolving trade policy adversely impacts the global supply chain and cost structure of Tesla and our peers.”
Tesla’s disappointing quarter happened as CEO Elon Musk focused much of his time heading the Department of Government Efficiency, or DOGE.
However, on Tesla’s earnings call Musk said his time spent with the agency will “drop significantly” moving forward.
As of its Q1 close, shares of Tesla are down 41% since the beginning of 2025.
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