CNBC4/22/2026Business
Tesla Q1 Earnings Beat Estimates on EPS but Miss Revenue
Shares rise 3% in extended trading as company faces competition from BYD, Xiaomi and consumer backlash over Musk's politics
Quick Look
- Tesla reported Q1 adjusted EPS of 41 cents, beating analyst estimates of 37 cents, while revenue of $22.39 billion missed expectations of $22.64 billion.
- Shares rose 3%+ after hours.
- The company confirmed plans for more affordable Model Y and Model 3 trims as it faces intensifying competition from Chinese rivals BYD and Xiaomi, plus consumer backlash over CEO Elon Musk's political involvement.
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Tesla reported Q1 adjusted EPS of 41 cents, beating analyst estimates of 37 cents, while revenue of $22.39 billion missed expectations of $22.64 billion. Shares rose 3%+ after hours. The company confirmed plans for more affordable Model Y and Model 3 trims as it faces intensifying competition from Chinese rivals BYD and Xiaomi, plus consumer backlash over CEO Elon Musk's political involvement. Automotive gross margins improved to 19.2%.
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This article was originally published by CNBC.
