Tesla’s First-Quarter Profits Tumble 71 Percent
The electric vehicle maker warns of ‘uncertainty’ in the global economy.
Shares of Tesla Motors were little changed in extended trading after the electric vehicle maker’s first-quarter earnings report fell short of Wall Street estimates.
Total revenues fell by 9 percent to $19.34 billion from $21.3 billion a year earlier, and automotive revenues plunged 20 percent to $14 billion from $17.4 billion last year.
Earnings per share were 27 cents in the first three months of 2025, while profits declined by 71 percent to $409 million, from $1.39 billion.
Tesla was expected to report revenues of $21.24 billion and earnings per share of 43 cents in the January to March quarter, according to analysts polled by FactSet.
The company said in the first-quarter earnings report that uncertainty in the global economy could harm demand in the short term.
“Uncertainty in the automotive and energy markets continues to increase as rapidly evolving trade policy adversely impacts the global supply chain and cost structure of Tesla and our peers,” Tesla stated. “This dynamic, along with changing political sentiment, could have a meaningful impact on demand for our products in the near-term.”
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This is a developing story and will be updated.
