Tesla, a leading electric vehicle company, has released its financial report for the first quarter. The report shows that the net worth of its digital assets remains unchanged from the previous quarter, amounting to $184 million. However, the company’s revenue for the first quarter has declined by 9%, marking the largest decrease since 2012. This decline is attributed to the continuous price reduction of Tesla’s vehicles. The net profit has also dropped by 55% from the same period last year, from $2.513 billion to $1.13 billion. The decrease in sales surpasses the initial decline caused by the pandemic in 2020. Despite these challenges, Tesla claims to be accelerating the launch of new, more affordable vehicle models that can be produced on the same production line as their existing product line. As a result of these announcements, Tesla’s stock price surged by 8% after hours.
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Tags: digital assets, Bitcoin, Tesla
Source link: https://www.cnbc.com/2024/04/23/tesla-tsla-earnings-q1-2024-.html
Note: The content of this article represents the author’s opinion and does not constitute investment advice.
Original article link: https://www.bitpush.news/articles/6636993
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