Tesla Earnings: Anemic Sales, Pressure to Start 2024
Tesla's First-Quarter Sales Disappoint
Tesla's first-quarter sales were anemic, falling short of expectations. The electric-vehicle maker reported Tuesday after the closing bell that its revenue for the quarter came in at $21.45 billion, below analysts' estimates of $21.96 billion.
Pressure to Improve in 2024
Tesla has been under pressure to start 2024 with strong results after a disappointing 2023. The company has faced production and delivery challenges, as well as increased competition from other electric-vehicle makers.
Earnings Call and Analyst Outlook
Tesla will hold an earnings call with analysts on Wednesday to discuss its financial results. Analysts will be closely listening for any guidance on the company's plans for 2024 and its expectations for the rest of the year.
Stock Performance
Tesla's stock has been volatile in recent months, and the earnings report is likely to have a significant impact on its share price. The stock closed at $177.90 on Tuesday, down from its 52-week high of $384.29.
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