"Tesla reported earnings of 41 cents a share on Wednesday after market close, more than the 37 cents per share that Wall Street expected. The company reported a positive free cash flow, but missed market expectations of its revenue with $22.39bn weaker than the $22.6bn Wall Street estimated."
"Despite Musk's usual grandiose promises and vows to dominate society's future, Tesla's stock has lagged behind mega-cap rivals recently and fallen around 11% so far this year."
"Tesla stated in its report that preparations were also underway to roll out robotaxis in three Florida cities, as well as Las Vegas."
"Musk has touted the company's forthcoming products as inevitably world-changing innovations. He has claimed that the company's Optimus robot, which has not yet entered wide production and is not available to the public, will be the biggest product of all time."
Tesla's first-quarter earnings exceeded expectations with earnings of 41 cents per share, surpassing the anticipated 37 cents. However, revenue fell short at $22.39 billion compared to the expected $22.6 billion. The company's stock rose over 3% post-report. Despite challenges from competition and Musk's controversial involvement in politics, Tesla claims demand for its vehicles is rebounding. The company is pivoting towards AI and robotics, with plans for robotaxis in Florida and Las Vegas, while Musk promotes the Optimus robot as a revolutionary product.
Read at www.theguardian.com
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