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.”
Tesla believes that its localized manufacturing base provides the company “advantages in delivering the best products” at competitive prices.
“We continue to make critical, high-value investments while maintaining a strong balance sheet during this uncertain period,” the quarterly update deck stated.
Tesla stock dipped as much as 0.5 percent in after-hours trading. Shares of Tesla have dropped about 37 percent this year, sliding below $238.
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