Tesla Q1 Sales Increase 81%... Stock Price Rises in After-Hours Trading

[Image source=Reuters Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] Tesla's first-quarter sales increased by 81% compared to the previous year. Surpassing market expectations with strong performance, Tesla's stock price is soaring over 4% in after-hours trading.

Tesla announced its first-quarter earnings with these details on the 20th (local time).

First-quarter sales reached $18.76 billion (23.16 trillion KRW), an 81% increase compared to the same period last year. This exceeded the market expectation of $17.8 billion.

Earnings per share were $3.22, nearly $1 higher than the market expectation of $2.26.

Specifically, automotive sales were recorded at $16.86 billion, an 87% increase compared to the same period last year. The automotive gross margin expanded to 32.9%. Tesla stated, "Sales growth was driven by increased vehicle deliveries and higher average selling prices."

Following the earnings announcement, Tesla's stock price is trading around $1,018, up 4.18% in after-hours trading. Prior to the earnings release, Tesla closed the regular session down 4.96% that day.

This content was produced with the assistance of AI translation services.