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Tesla sees historic revenue drop - and increased shares

Author
Newstalk ZB,
Publish Date
Wed, 24 Apr 2024, 8:24pm
Elon Musk had a bizarre response to a US politician who he thought was slamming the billionaire for having an "ego problem". Photo / Getty Images
Elon Musk had a bizarre response to a US politician who he thought was slamming the billionaire for having an "ego problem". Photo / Getty Images

Tesla sees historic revenue drop - and increased shares

Author
Newstalk ZB,
Publish Date
Wed, 24 Apr 2024, 8:24pm

New reports show Tesla is experiencing a steep decline in profits and revenue - but the company's shares jumped 10 percent.

The electric vehicle manufacturer posted a lower-than-expected $21.3 billion in revenue and 55 percent decline in profit from the first quarter of 2023.

AJ Bell financial advisor Danni Hewson says investors believe CEO Elon Musk aims to focus more attention on Tesla, with more projects in the pipeline.

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