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Tesla Posts Profit Beat
Description
Tesla beat Q1 EPS estimates with adjusted earnings of 41 cents per share but missed revenue expectations with $22.39B. Net income rose to $477M and revenue climbed 16% year over year. Vehicle deliveries reached 358,023, up ~6% year over year. Shares reversed gains after Tesla said annual spending will be $5B above prior guidance. Tesla plans lower-cost Model Y and Model 3 versions and a large-scale Optimus robot factory.
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