Tesla Stock Rallies Despite Major Earnings Miss As EV Focus Reaffirmed

📆 23/04/2024 04:31 p. m.
📰 Forbes

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Derek Saul is a New Jersey-based Senior Reporter on our news desk. He graduated in 2021 from Duke University, where he majored in Economics and served as sports editor for The Chronicle, Duke's student newspaper, joining Forbes soon thereafter.

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Tesla fell far short of expectations in its eagerly awaited earnings report Tuesday afternoon, but its stock rallied considerably as the company emphasized its pathway to sustainable growth.Tesla’s $0.45 profit per share was far short of average analyst estimates of $0.49 earnings per share in the first quarter of 2024, according to data compiled by FactSet, and its $21.3 billion of revenue was also well below forecasts of $22.22 billion in gross revenue.

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