Tesla reported first-quarter revenue of $19.34 billion, below estimates of $21.37 billion. The company did not sell Bitcoin, nor did it buy any.
Automotive revenues were hit harder, falling 20% to $14 billion from $17.4 billion in the same period last year.
The revenue decline was partly attributed to temporary production slowdowns as Tesla retooled four vehicle factories in preparation for a refreshed version of its best-selling Model Y SUV. Lower average selling prices and aggressive sales incentives also weighed on the company’s finances.
The disappointing results come amid broader political and economic uncertainty. CEO Elon Musk has spent much of the year in Washington advising President Donald Trump and leading efforts to streamline the federal government.
But Trump’s aggressive tariff policies have triggered fears of rising costs for Tesla, particularly for imported materials such as battery cells, printed circuit boards and automotive glass. Tesla shares have tumbled 41% year-to-date, marking their worst quarterly decline since 2022.
Tesla warned in a note to shareholders that “rapidly evolving trade policy” and “shifting political sentiment” are increasing uncertainty in both the auto and energy markets. The company said these developments could have a “meaningful near-term impact” on demand for its vehicles and energy products.
The company refrained from making any growth promises for 2025, saying, “We will revisit our 2025 expectations in our second quarter update.”
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/breaking-tesla-released-earnings-report-did-he-sell-bitcoin-here-are-the-details/