Tesla earnings recap: Elon Musk braces investors for a big spending increase but says it will pay off
Tesla reported Q1 revenue of $22.38 billion, a 16% year-over-year increase, and adjusted EPS of 41 cents, up 51% from last year. Elon Musk warned investors of a significant increase in capital expenditures to support new AI products and services.
Tesla delivered an earnings beat in Q1 with $22.38 billion in revenue, a 16% year-over-year increase. Adjusted EPS was 41 cents, up 51% from the same period last year. The company is planning a significant increase in capital expenditures to support new AI products, including the Optimus humanoid bot and Robotaxi service. Elon Musk stated that these investments will be costly but will pay off. Tesla's gross margin also grew year over year. Musk mentioned that the Terafab chip fab project with SpaceX is necessary due to supply constraints.
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