Tesla stock is up 7.2% despite disappointing earnings, attributed to macro factors and Elon Musk news

From Nasdaq: 2025-04-23 12:26:00

Tesla stock (NASDAQ: TSLA) is up 7.2% despite disappointing earnings. The S&P 500 is up 2.1%, and the Nasdaq Composite up 3%. The rise is attributed to macroeconomic factors and Elon Musk stepping back from political activities. Despite positivity, Tesla’s stock is down 46% from its peak last year.

Tesla reported Q1 earnings of $0.27 per share on revenue of $19.34 billion. Analysts expected $0.39 EPS on $21.1 billion revenue. Despite the miss, Tesla is up today. However, with a 20% decline in automotive revenue and net income down 71% last quarter, the stock is still considered risky and expensive.

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Read more at Nasdaq: Tesla Stock Is Jumping Today. Is the Stock a Buy Now That Elon Musk Plans to Step Back From DOGE?