Tesla’s losses worse than expected
For the first quarter, Tesla has posted an adjusted loss of $2.90 per share, which is four times worse than what the analysts on Wall Street had forecast. Revenue was also significantly lower than the analyst expectations as the demand for electric vehicles dropped. While the overall sales of Tesla’s EVs increased from $2.74b to $3.72b year-on-year (representing a jump of 36%), the sales have declined 41% from the previous quarter despite the American economy posting a fantastic 3.2% gain.
