- Tesla Inc. announced a record-breaking first quarter with a revenue of $10.39 billion, exceeding expectations. The electric car company delivered 184,800 vehicles, a 109% increase from the previous year, despite global supply chain challenges. Tesla also reported a net income of $438 million, marking its seventh consecutive profitable quarter.
- In other news, the S&P 500 hit a new record high, closing at 4,128.80 on Friday. The index has gained 8.6% so far this year, fueled by strong earnings reports and optimism about economic recovery. Tech stocks led the gains, with Apple, Microsoft, and Amazon all reaching new highs.
- As the market continues to rally, investors are closely watching the upcoming earnings season for more clues on the state of the economy. Companies like JPMorgan Chase, Goldman Sachs, and Delta Air Lines are set to report their first-quarter results this week, providing insights into the impact of the pandemic on various sectors.
Read more at Barchart: What You Need To Know Ahead of Tesla’s Earnings Release