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Mar 31, 2025
Tesla Q1 2025 Earnings Report
Tesla reported a sharp decline in net income and revenue amid production shifts and tariff-related headwinds.
Key Takeaways
Tesla experienced a challenging Q1 2025, with lower vehicle deliveries and average selling prices contributing to a decline in revenue and profitability. However, energy and services segments showed growth, and the company continued to invest in AI and autonomy.
Revenue dropped to $19.3B due to a significant decline in automotive sales.
Net income decreased to $409M, down 71% from the previous year.
Energy storage deployments hit a record, driven by Powerwall and Megapack growth.
Tesla launched FSD (Supervised) in China and maintained progress on Cybertruck and Robotaxi projects.
Revenue by Segment
Forward Guidance
Tesla is maintaining its investment in AI, autonomy, and energy while being cautious with expansion due to macroeconomic uncertainty and evolving trade policies.
Positive Outlook
- FSD (Supervised) launched in China, validating global adaptability.
- Cybertruck and Robotaxi production preparations on track.
- Energy storage demand remains strong, driven by grid needs and AI data center loads.
- IRA-compliant 4680 battery cells launched, enhancing eligibility for incentives.
- New affordable vehicle production planned to begin in H1 2025 using current lines.
Challenges Ahead
- Automotive revenue and margins impacted by Model Y factory upgrades.
- Increased tariffs expected to impact energy business more than automotive.
- Higher R&D and AI-related expenses weighed on profitability.
- Production delays during Model Y transition affected delivery volumes.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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