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Tesla shares jump 12% after Musk says company aims to start production of affordable new EV by early 2025 [MSNBC.com]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
In this articleElon Musk, CEO of Tesla and owner of social media site X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France, on June 16, 2023.Gonzalo Fuentes | ReutersThe stock jumped in extended trading after CEOHere's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Revenue declined from $23.33 billion a year earlier and from $25.17 billion in the fourth quarter. Net income dropped 55% to $1.13 billion, or 34 cents a share, from $2.51 billion, or 73 cents a share, a year ago.The drop in sales was even steeper than the company's last decline in 2020, which was due to disrupted production during the Covid-19 pandemic. Tesla's automotive revenue declined 13% year over year to $17.38 billion in the first three months of 2024.Musk said on the call that the company plans to start production of new models in "early 20
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