TSLA Earnings: Tesla's Financial Results Disappoint as Automotive Sales Decline 20%
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Tesla (TSLA) reported disappointing Q1 earnings, with EPS at $0.27, below the expected $0.41. Revenue was $19.34 billion, missing forecasts of $21.11 billion, and automotive revenue fell 20% year-over-year to $14 billion. Net income dropped 71%, and vehicle deliveries declined 13% to 336,681. TSLA stock has fallen 42% this year, with short sellers profiting $11.50 billion. Analysts maintain a consensus Hold rating, with an average price target of $296.66, suggesting a potential 26.04% upside.
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