Investor Cheer Boosts Tesla Stock by 13% with New Vehicle Launch Strategy
Wednesday, 24 April 2024, 12:00
Overview of Q1 Performance
Tesla stock gained 13.3% in after-hours trading following the company's announcement regarding the early launch of affordable vehicle models.
Key Metrics
- Revenue declined by 9% year over year, missing Wall Street estimates.
- Auto segment revenue dropped by 13% to $17.38 billion.
- Vehicle deliveries decreased by 9%.
Despite the challenging quarter, investor sentiment was buoyed by Tesla's strategic decision to expedite the release of lower-priced EVs.
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