From Nasdaq: 2024-04-25 23:09:33

Tesla stock surged 12% after Q1-2024 earnings release, adding 5% the next day despite being down over 30% YTD. Revenue declined by 9% YoY, GAAP net income down 55%. Musk views Tesla as a tech company, but over 80% of revenue comes from selling automobiles.
Competitors pose a threat, job cuts and more affordable vehicles could impact profit margins. Request for Musk’s $56 billion pay package raises concerns amid cost cuts. Analysts divided on TSLA stock, with some projecting minimal upside. Profit margins resemble a car company despite tech focus.



Read more at Nasdaq: Tesla Stock (NASDAQ:TSLA): Earnings Not as Good as the Reaction Suggests