Decline Stock Tesla Electric Car Company
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| Decline Stock Tesla Electric Car Company |
With the closing of US indices, Tesla's stock began to decline during after-hours trading by about 4%, after the American company announced its financial results for the first quarter. for the current year.
Tesla's net income amounted to $2.51 billion in the first quarter, down 24% from the same period in 2022, while the company's adjusted earnings fell by 23% during the same period, to 73 cents per share.
In the same context, Tesla's profits amounted to about 85 cents per share in the first quarter of 2023, while revenues amounted to $ 23.33 billion, compared to expectations of $ 23.21 billion.
As for revenues, Tesla’s revenues from its basic production activities of electric cars amounted to about $ 19.96 billion in the first quarter, an increase of 18% from the same period last year.
Tesla's revenues from the energy unit increased by 148% and reached $1.53 billion compared to the same period last year, and this comes after the company's CEO, Elon Musk, sold billions of dollars in shares from his possession in Tesla in order to finance a purchase deal. Twitter platform, compared to the $ 44 billion that it currently owns
Tesla announced the delivery of 422,875 thousand cars in the first quarter of 2023, which is close to the company's target, while the pace of production recorded 440,808 thousand cars.