Car wreck: What to believe, Musk’s promises or Tesla terrible results for Q1?

Quick Summary:

Elon Musk's true believers are boosting the stock after market despite a big net income drop.

Falling sales hammered profitability, sending net income down nearly 40% to a piddling $409 million, far below the over $600 million forecast by Wall Street.

I also eliminated earnings from the sale of regulatory credits to competing carmakers, a benefit that Musk himself says will prove ephemeral.

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Article Details

Author / Journalist: Shawn Tully

Category: EconomyBusiness

Markets: United States

Topics: Elon Musk Magnificent 7 Big Tech Tesla DOGE

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-22 @ 22:27:18 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 710 words

Reading Time: 4 minutes read

Sentences: 6 lines

Sentence Length: 119 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28159170

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About Fortune

Main Topics: EconomyBusiness

Official Website: fortune.com

Update Frequency: 30 posts per day

Year Established: 1929

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #95

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