The electric car manufacturer Tesla has released a report with results in the first quarter, which disappointed analysts. The revenue indicator was below forecasts. Thus, the company's net profit attributable to shareholders decreased by 24% year-on-year to $2.51 billion. Diluted earnings per share were $0.73 versus $0.95 for the first quarter of 2022. Adjusted diluted earnings per share were $0.85 with a forecast of $0.86. Revenue rose 1.24 times and amounted to $23.33 billion. Analysts had expected revenue of $23.78 billion. Car sales increased 1.18 times compared to the same period last year and amounted to $19.9 billion. After the publication of the reports, the company's share price began to decline – by 6.07%, to $180.59 per paper. However, it is worth noting that this year the value of Tesla shares, having risen by 46%, showed better results than in general according to the Nasdaq 100 index, having risen 19% since the beginning of the year. Representatives of the company noted that the reduction in prices for its electric vehicles did not lead to a serious reduction in profits, and it intends to continue to adhere to the policy of reducing prices, as well as to implement new products such as Cybertruck.
QUICK LINKS
ForexMart is authorized and regulated in various jurisdictions.
(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines
Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.
Contact Us 
