main-content-following

Tesla Q1 profit falls sharply as it fights backlash tied to Musk's role in Trump administration

Tesla
Tesla

Tesla's first-quarter profits plunged by more than two thirds amid a boycott of Elon Musk's electric car company that has hurt sales and sent its stock plunging.

The Austin, Texas, company said Tuesday that quarterly profits fell by 70% to to $409 million, or 12 cents a share.

That's far below analyst estimates.

Tesla's revenue fell 9% to $19.3 billion in the January through March period, below Wall Street's forecast.

The disappointing results come as the company is fighting a backlash due to Musk's leadership of a federal government jobs-cutting group that has divided the country and sparked angry protests.

Local News

  •  
     
     
     
  •  
     
     
     
  •  
     
     
     
  •  
     
     
     
  •  
     
     
     
  •