Tesla's official financial reports for Q2 2024

Tesla Q1 Revenue $21.3B, EPS $0.45 Miss Estimates; Stock Up 9% AH

Apr 23, 2024, 08:44 PM

Tesla reported its first-quarter earnings for 2024, revealing significant misses on both revenue and earnings per share (EPS) expectations. The company posted revenue of $21.3 billion, missing the anticipated $22.3 billion by $1 billion, and an adjusted EPS of $0.45, below the expected $0.51. This marks a notable decline compared to previous forecasts and represents the steepest revenue drop since 2012. Despite these results, Tesla's stock surged by 9% in after-hours trading. The company also reported a negative free cash flow of $2.53 billion, a stark contrast to the expected positive $653.6 million. Additionally, Tesla's net income fell by 55% year-over-year.