<p>投资者在 <strong>特斯拉</strong>（TSLA 4.71%）周二下午公布财报时预期结果会令人失望。不幸的是，他们几乎得到了这样的结果。由于面临高利率、季度部分时间的生产暂停以及宏观经济不确定性等一系列挑战，公司的收入和盈利大幅下滑。但好消息是，投资者也得到了他们中许多人可能最想要的一个承诺：首席执行官埃隆·马斯克承诺他在唐纳德·特朗普总统的 DOGE（政府效率部）倡议上花费的时间将很快大幅减少。</p>
<p>虽然特斯拉最近面临的许多逆风主要是由于宏观因素，但也有一种普遍观点认为，公司的某些近期挑战是由于首席执行官的分心而自我造成的。今年早些时候，马斯克在特朗普总统的 DOGE 倡议中担任了主要角色，这占用了他在电动车制造商的时间。因此，特斯拉的投资者热烈欢迎首席执行官计划减少这一工作的消息。</p>
<h2>特斯拉股东希望埃隆·马斯克回归</h2>
<p>&#34;我认为大概从 [...] 五月开始，我在 DOGE 的时间分配将大幅减少，&#34;马斯克在本周的特斯拉第一季度财报电话会议上说。他接着表示，他将把&#34;更多&#34;的时间分配给特斯拉。</p>
<p>马斯克的专注时机再合适不过了。即使马斯克也承认公司面临着&#34;一些挑战...&#34;但他鼓励投资者关注长期。此外，他再次强调，他相信公司有一天可能会成为&#34;世界上最有价值的公司&#34;。</p>
<p>然而，目前，特斯拉面临短期挑战，因为它正在努力推出自动驾驶能力，包括一个自动驾驶共享网络。但马斯克相信，特斯拉今天的研发努力将为未来带来丰厚的财务回报。在电话会议上，他表示，他预计公司的自动驾驶技术将在明年中期或下半年对公司的底线产生实质性影响。特斯拉希望通过展示其技术，能够推动对其车辆的需求增加。此外，公司预计今年晚些时候推出一款更实惠的车型也将有所帮助。</p>
<p>在所有这些重要举措进行中，特斯拉股东需要马斯克尽快将大部分精力投入到公司中——看起来他们将如愿以偿。</p>
<h2>从深渊中爬出</h2>
<p>目前，特斯拉第一季度的财务结果证实了公司正在进行一场艰苦的斗争。公司的收入同比下降了 9%，汽车收入同比下降了 20%。能源发电和存储收入增长 67% 帮助抵消了汽车业务的挑战。但由于该部门仅占总收入的 14%，这并不足够。</p>
<p>盈利能力遭受重创。由于汽车收入的下降影响了毛利率，每股收益同比暴跌 71%。</p>
<p>鉴于所有近期挑战，公司未能提供对交付或收入预期增长的具体指导。特斯拉在第一季度更新中表示，将在报告第二季度结果时重新审视其指导。公司可能希望最近改进的 Model Y、持续开发的自动驾驶技术以及今年晚些时候推出的低成本车型将为公司提供更清晰的增长前景。</p>
<p>与此同时，特斯拉的投资者可以放心，公司具备应对短期挑战的良好能力。特斯拉不仅在第一季度继续产生正的自由现金流，而且公司还拥有超过 370 亿美元的现金，资产负债表非常优秀。</p>

特斯拉

<p>特斯拉最近的财报显示，收入下降了 9%，主要是由于汽车销售下降了 20%，而能源生成收入则增长了 67%。首席执行官埃隆·马斯克向投资者保证，他将减少对 DOGE 项目的参与，从而能够更多地专注于特斯拉。尽管面临高利率和生产暂停等当前挑战，马斯克对公司的未来仍然保持乐观，特别是即将推出的自动驾驶技术和一款新的经济型车型。特斯拉继续产生正现金流，持有超过 370 亿美元的现金，显示出在短期困难中仍具韧性</p>

<p>Investors expected disappointing results when <strong>Tesla</strong>(TSLA 4.71%) reported earnings Tuesday afternoon. Unfortunately, that's pretty much what they got. Revenue and earnings plummeted as the company faced a number of challenges, including high interest rates, a pause in production during part of the quarter, and macroeconomic uncertainty. But, on the bright side, investors also got the one thing many of them probably wanted the most: A promise from CEO Elon Musk that his time spent on President Donald Trump's DOGE (Department of Government Efficiency) initiative will soon drop off significantly.</p>
<div class="lb-trans"><p>投资者在 <strong>特斯拉</strong>（TSLA 4.71%）周二下午公布财报时预期结果会令人失望。不幸的是，他们几乎得到了这样的结果。由于面临高利率、季度部分时间的生产暂停以及宏观经济不确定性等一系列挑战，公司的收入和盈利大幅下滑。但好消息是，投资者也得到了他们中许多人可能最想要的一个承诺：首席执行官埃隆·马斯克承诺他在唐纳德·特朗普总统的 DOGE（政府效率部）倡议上花费的时间将很快大幅减少。</p>
</div><p>While many of the headwinds Tesla has been facing recently have been due to macro factors, there's also a common viewpoint that some of the company's recent challenges are self-inflicted by a distracted CEO. Earlier this year, Musk stepped into a lead role in President Trump's DOGE initiative, and it's been taking time away from the electric-car maker. So Tesla investors warmly welcome news that the CEO has plans to pull back on this effort.</p>
<div class="lb-trans"><p>虽然特斯拉最近面临的许多逆风主要是由于宏观因素，但也有一种普遍观点认为，公司的某些近期挑战是由于首席执行官的分心而自我造成的。今年早些时候，马斯克在特朗普总统的 DOGE 倡议中担任了主要角色，这占用了他在电动车制造商的时间。因此，特斯拉的投资者热烈欢迎首席执行官计划减少这一工作的消息。</p>
</div><h2>Tesla shareholders want Elon Musk back</h2>
<div class="lb-trans"><h2>特斯拉股东希望埃隆·马斯克回归</h2>
</div><p>&#34;I think starting probably in [...] May, my time allocation at DOGE will drop significantly,&#34; Musk said during Tesla's first-quarter earnings call this week. He went on to say that he will be allocating &#34;far more&#34; of his time to Tesla.</p>
<div class="lb-trans"><p>&#34;我认为大概从 [...] 五月开始，我在 DOGE 的时间分配将大幅减少，&#34;马斯克在本周的特斯拉第一季度财报电话会议上说。他接着表示，他将把&#34;更多&#34;的时间分配给特斯拉。</p>
</div><p>Musk's devoted attention couldn't be more timely. Even Musk admitted that the company is facing &#34;some challenges...&#34; But he encouraged investors to stay focused on the long-term. In addition, he once again emphasized that he believes the company could one day be &#34;the most valuable company in the world by far.&#34;</p>
<div class="lb-trans"><p>马斯克的专注时机再合适不过了。即使马斯克也承认公司面临着&#34;一些挑战...&#34;但他鼓励投资者关注长期。此外，他再次强调，他相信公司有一天可能会成为&#34;世界上最有价值的公司&#34;。</p>
</div><p>For now, however, Tesla faces short-term challenges as it works to roll out autonomous driving capabilities, including an autonomous ride-sharing network. But Musk believes Tesla's research and development efforts today will lead to great financial results later on. During the call, he said that he expects the company's autonomous driving technology will have a material impact on the company's bottom line sometime around the middle or second half of next year. Tesla is hoping that as it showcases its technology, it will drive increased demand for its vehicles. In addition, the company expects a planned launch of a more affordable model later this year to help, too.</p>
<div class="lb-trans"><p>然而，目前，特斯拉面临短期挑战，因为它正在努力推出自动驾驶能力，包括一个自动驾驶共享网络。但马斯克相信，特斯拉今天的研发努力将为未来带来丰厚的财务回报。在电话会议上，他表示，他预计公司的自动驾驶技术将在明年中期或下半年对公司的底线产生实质性影响。特斯拉希望通过展示其技术，能够推动对其车辆的需求增加。此外，公司预计今年晚些时候推出一款更实惠的车型也将有所帮助。</p>
</div><p>With all of these important initiatives underway, Tesla shareholders need Musk to devote most of his energy to the company as soon as possible -- and it looks like they're going to get what they want.</p>
<div class="lb-trans"><p>在所有这些重要举措进行中，特斯拉股东需要马斯克尽快将大部分精力投入到公司中——看起来他们将如愿以偿。</p>
</div><h2>Climbing out of a pit</h2>
<div class="lb-trans"><h2>从深渊中爬出</h2>
</div><p>For now, Tesla's first-quarter financial results confirmed that the company is fighting an uphill battle. The company's revenue fell 9% year over year, driven by a 20% year-over-year decline in automotive revenue. A 67% increase in energy generation and storage revenue helped offset challenges in its auto business. But with the segment accounting for just 14% of total revenue, it wasn't enough.</p>
<div class="lb-trans"><p>目前，特斯拉第一季度的财务结果证实了公司正在进行一场艰苦的斗争。公司的收入同比下降了 9%，汽车收入同比下降了 20%。能源发电和存储收入增长 67% 帮助抵消了汽车业务的挑战。但由于该部门仅占总收入的 14%，这并不足够。</p>
</div><p>Profitability suffered severely. With a decline in automotive revenue weighing on gross margin, earnings per share plummeted 71% year over year.</p>
<div class="lb-trans"><p>盈利能力遭受重创。由于汽车收入的下降影响了毛利率，每股收益同比暴跌 71%。</p>
</div><p>Given all of its near-term challenges, the company refrained from providing specific guidance for its expected growth in deliveries or revenue. Tesla said in its first-quarter update that it would revisit its guidance when it reports its second-quarter results. The company is likely hoping that a recently revamped Model Y, continued development of its autonomous driving technology, and the launch of a lower-cost model later this year will give the company more clarity about what growth could look like.</p>
<div class="lb-trans"><p>鉴于所有近期挑战，公司未能提供对交付或收入预期增长的具体指导。特斯拉在第一季度更新中表示，将在报告第二季度结果时重新审视其指导。公司可能希望最近改进的 Model Y、持续开发的自动驾驶技术以及今年晚些时候推出的低成本车型将为公司提供更清晰的增长前景。</p>
</div><p>Meanwhile, Tesla investors can rest assured that the company is well-equipped to weather near-term challenges. Not only did Tesla continue generating positive free cash flow in its first quarter, but the company also has an excellent balance sheet with more than $37 billion of cash.</p>
<div class="lb-trans"><p>与此同时，特斯拉的投资者可以放心，公司具备应对短期挑战的良好能力。特斯拉不仅在第一季度继续产生正的自由现金流，而且公司还拥有超过 370 亿美元的现金，资产负债表非常优秀。</p>
</div>

Tesla Investors Wanted 1 Major Thing From Elon Musk, and They Just Got It

- 特斯拉第一季度财报显示，营收同比下降 9%，汽车收入下降 20%。  
- CEO 马斯克承诺将减少在特朗普的 DOGE 项目上的时间，专注于特斯拉。  
- 特斯拉预计未来将推出更实惠的车型，并继续推进自动驾驶技术。  

特斯拉的投资者一直希望从埃隆·马斯克那里得到一件重要的事情，而他们刚刚如愿以偿