Tesla Profits Tumble But Shares Rise On New Vehicle Plan
by International Business Times UK
International Business Times UK— Tesla reported a big drop in quarterly profits Tuesday amid an increasingly cutthroat electric vehicle market, but shares rallied as CEO Elon Musk pledged to accelerate plans for a more affordable EV.Tesla reported profits of $1.1 billion, down 55 percent from the year-ago quarter on revenues of $21.3 billion, down nine percent as the company described EV sales as "under pressure."But shares rocketed up more than 11 percent in after-hours trading after Tesla pledged to "accelerate" new more...
Japan Today—Tesla profits tumble but shares rise on new vehicle plan. Tesla reported a big drop in quarterly profits Tuesday, pointing to elevated pressure on the electric vehicle market that has led to deep cost-cutting. But shares of Elon Musk's EV company rallied after Tesla signaled pledged to "accelerate" new more affordable autos -- something Wall Street analysts have been clamoring
New York Post—Tesla's Q1 report: Revenue drops, but shares jump on Elon Musk's plan to launch new models. The Musk-led firm’s revenue fell in the first quarter as it handed over fewer electric vehicles to customers due to slowing demand and intense competition worldwide.
BBC News—Tesla brings forward new models as profits halve. The EV maker brings forward launch plans for new models as profits drop by more than half.