From CNBC: 2025-04-23 10:19:00

US President Donald Trump and Tesla CEO Elon Musk, along with Musk’s son, X Æ A-Xii, spoke to the press at the White House. Tesla shares surged 5% after Musk indicated he will spend more time at the company and tariff optimism boosted investor sentiment. Share prices initially stayed flat but rose after Trump hinted at lower China tariffs and affirmed he won’t fire Fed Chair Jerome Powell.

Tesla reported disappointing first-quarter results, with a 20% decline in automotive revenue and a 71% drop in net income. The company plans to review its 2025 guidance in the next quarterly update. Earnings of 27 cents per share fell short of the estimated 39 cents, with revenues also missing projections at $19.34 billion compared to $21.11 billion.

Despite the poor earnings, Tesla’s shares saw a significant increase following a period of decline. Analysts are divided on the outlook for Tesla, with Piper Sandler calling the report positive while Goldman Sachs expects software revenue to offset headwinds. UBS and Wells Fargo remained bearish on the stock, with UBS warning of a potential sell-off after the June robo-taxi launch.



Read more at CNBC:: Tesla stock pops after Trump comments on China tariffs, Powell