Tesla Hopes New Models Can Shore Up A 55 Percent Drop In Profits [Yahoo! Finance]
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Source: Yahoo! Finance
Here are the important stories you need to know. 1st Gear: Tesla Profits Drop 55 Percent Tesla doesn't seem to be able to catch a break right now. Whether it's falling registrations as sales drop , or bodged recalls of its flagship models , the electric vehicle maker is certainly having a time of it right now. This reached a head late last night, when the company revealed that its profits were down an eye-watering 55 percent due to falling sales and lower costs for its cars. Last night, Tesla revealed that it took in $21.3 billion in revenue during the first quarter of 2024, reports the Guardian . That income marked a nine percent drop over the same period last year, and the company's profits from the quarter hit $1.1 billion—55 percent lower than the same period in 2024. Despite the kinds of revenue cuts that would have most bosses fearing for their jobs, Tesla weirdly saw its share price surge following the investors call last night. That's because the company outlined its a
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