Tesla (TSLA) released its financial results and shareholders letter for the first quarter (Q1) 2024 after market close today.
We are updating this post with all the details from the financial results, shareholders’ letter, and the conference call later tonight. Refresh for the latest information.
As we reported in our Tesla Q1 2024 earnings preview yesterday, the Wall Street consensus for this quarter was $22.220 billion in revenue and earnings of $0.49 per share.
Now, did Tesla meet, beat, or miss the expectations?
Just after the market close today, Tesla released its financial results and confirmed that it did miss expectations with earnings of $0.45 per share (non-GAAP) and revenue with $21,301 billion during the last quarter.
Despite the miss on expectations for revenue and earnings, which are generally the main drivers of stock prices, Tesla’s stock is up by as much as 8% in aftermarket trading following the release of the results.
That’s probably due to Tesla trying to ride the AI wave with news in the …