Tesla Continues Downward Trend with 55% Profit Drop
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Tesla Calls Itself an AI, Robotics Company as Profits Plunge 55%
There was nothing electric about electric vehicle (EV) maker Tesla’s latest financial results. The company reported its first quarter 2024 earnings results Tuesday (April 23), disclosing a 55% drop in profits when compared to the same period last year. “We experienced numerous challenges in Q1, from the Red Sea conflict and the arson attack at Gigafactory […]
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Tesla profits drop 55%, company says EV sales 'under pressure' from hybrids
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 reported revenue of $21.3 billion in the first quarter, a 9% drop from the first quarter of 2023. Analysts polled by Yahoo Finance […] © 2024 TechCrunch. All rights reserved. For personal use only.
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Tesla profits down 55 per cent amid job losses, delivery issues and Cybertruck recall
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