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Tesla's stock has underperformed all of its megacap peers so far this year as global competition ramps up in the electric vehicle market. View More
In this articleTSLAFollow your favorite stocksCREATE FREE ACCOUNT Elon Musk waves to the crowd during the 56th annual World Economic Forum meeting in Davos, Switzerland, Jan. 22, 2026.Denis Balibouse | Reuters Tesla reported first-quarter earnings on Wednesday that beat analysts' estimates even as revenue came in weaker than expected. Shares of the electric vehicle maker initially rose about 4% in extended trading but gave up their gains after the company said on the earnings call that spending this year will be $5 billion above prior guidance. Here's how the company did, compared with estimates from analysts polled by LSEG:Earnings per share: 41 cents adjusted vs. 37 cents expectedRevenue: $22.39 billion vs. $22.64 billion expectedTesla's stock has underperformed all of its megacap peers so far this year, dropping 14% as of Wednesday's close. The company's core automotive business continues to struggle against competitors across the globe like China's BYD and Xiaomi. Revenue increased 16% in the quarter from $19.3 billion a year earlier, according to Tesla's earnings statement. In its auto segment, revenue also rose 16% to $16.2 billion from $14 billion a year ago. Tesla confirmed in the earnings deck that it plans to make "more affordable trims" of its Model Y SUV and Model 3 sedans.The past year has been a challenge as rivals offer higher-tech but lower-cost models against Tesla's aging lineup of electric vehicles. Tesla also faces an ongoing consumer backlash in response to CEO Elon Musk's work with the Trump administration, his incendiary political rhetoric and endorsements of far-right political figures. window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); Earlier this month, Tesla reported 358,023 vehicle deliveries for the first quarter, which was lower than the prior quarter and up about 6% from a year earlier. Tesla has recorded annual declines in the past two years, with a drop in the year-ago quarter partially attributable to "the loss of several weeks of production," as the company was upgrading Model Y factory lines.Net income increased to $477 million, or 13 cents a share, from $409 million, or 12 cents a share, a year earlier. Tesla's automotive gross margins, excluding the sales of environmental regulatory credits, came in at 19.2%, higher than in any quarter last year. The company said margins were helped by higher average selling price and "lower average cost per vehicle due to lower material costs."Profits were also boosted by what the company described, in its shareholder deck, as "one-time benefits" related to tariffs, and its automotive warranties. In February, the Supreme Court struck down a huge chunk of President Donald Trump's far-reaching tariff agenda, and companies are now claiming refunds from the federal government. CFO Vaibhav Taneja said on the earnings call that the company hasn't received a benefit from the Supreme Court decision. Capital expenditures jumped 67% in the quarter to $2.49 billion from $1.49 billion in the same quarter last year. Taneja said on the call that capex will top $25 billion this year, up from a 2026 prediction last quarter of $20 billion. That's an increase from $8.6 billion in 2025. window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); In its energy segment, which sells solar installations and a range of battery energy storage systems, Tesla reported $2.41 billion in revenue for the quarter, down 12% from $2.73 billion in the year-ago period.Musk has been trying to change the narrative surrounding his company by focusing on efforts in self-driving technology and humanoid robots. While the company is testing a small number of driverless cars in its ride-hailing service in Texas, Tesla still relies on EV sales for the bulk of its revenue and doesn't yet sell a robotaxi-ready vehicle.Tesla said in January that it would end production of Model S and X vehicles, and use the factory in Fremont, California, to build Optimus humanoid robots. The company said on Wednesday that "preparations for our first large-scale Optimus factory will begin shortly in Q2," with a plan for the "first-generation line" to build 1 million robots a year. Musk has a history of setting and missing ambitious targets for developing futuristic products. On the earnings call, Musk said older model Tesla vehicles featuring Hardware 3 computers would not be able to use the company's forthcoming "unsupervised" FSD systems, which are intended to make their cars capable of driverless operations, or safe for use without active human supervision.The company said it plans to set up a "discounted trade-in" for cars that have the older hardware, and will allow customers to upgrade their car computers and cameras to enable future self-driving system use.Tesla is the first of tech's trillion-dollar companies to report results for the quarter. Alphabet, Amazon, Meta and Microsoft are scheduled to report next Wednesday, followed a day later by Apple. This is breaking news. Please check back for updates.WATCH: Tesla can only trade on hopes about the future for so long, says Cramer VIDEO8:1808:18Tesla can only trade on hopes about the future for so long, says Jim Cramer Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
The upcoming facility - a 6 GW solar ingot and wafer manufacturing unit - represents an investment of approximately ?5,400 crore and is a key step in building a resilient domestic solar supply chain View More
18,830 consumers had installed rooftop solar systems in western Odisha as of March 2026, indicating a growing shift towards sustainable and self-reliant energy consumption View More
Shares of ACME Solar rose 1.65% to ?301.15 on Wednesday, against a previous close of ?296.25, with a session high of ?304.45 View More
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Inox Clean Energy has revived plans for an IPO that could raise up to $1 billion, engaging bankers and preparing to file draft papers. The move comes amid volatile equity markets, though renewable energy stocks remain strong. The company aims to expand capacity and recently raised funding and completed a key acquisition. View More
Inox Clean Energy Ltd . has revived plans for an initial public offering that could raise as much as $1 billion, according to people familiar with the matter. The company is in discussions with bankers and is likely to file the draft prospectus soon, the people said, asking not to be identified as the information is private. Inox Clean had previously filed draft papers for an IPO in July last year before withdrawing them in December. The company is expected to retain some of the banks that worked on the earlier attempt while adding a few more, including global firms, and is targeting a deal size roughly double its previous plans, the people said. Deliberations are ongoing, and details such as the size and timing of the offering could still change, the people said. A representative for Inox Clean didn’t respond to requests for comment. A recent selloff in Indian equities following the outbreak of the war in the Middle East has added to the challenges for companies seeking to go public, raising the prospect of a slowdown in issuance after two record-breaking years. Indian IPOs have raised about $2.9 billion so far this year, compared with $22 billion in 2025, according to data compiled by Bloomberg. Live Events Renewable energy has been a bright spot as India’s top 20 companies in the industry have surged between 8% and 53% over the past month, outpacing the Nifty 50’s roughly 6% gain. They benefited from rising crude oil prices, boosting investor interest in alternative energy plays. Inox Clean, part of the INOXGFL Group, is an integrated renewable energy platform. The company is targeting 10 gigawatts of installed renewable energy capacity and 11 gigawatts of integrated solar manufacturing capacity by fiscal year 2028, with assets across India and in several key global markets, according to its website. Inox Clean raised 31 billion rupees ($332 million) in a January funding round . Earlier this month, the company said it had completed the acquisition of Vibrant Energy from Macquarie Corporate Holdings Pty Ltd. and other shareholders at an enterprise value of about 50 billion rupees ($536 million). .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
Clean power generation grew 887 terawatt hours last year, exceeding overall global electricity demand growth of 849 terawatt hours View More
EPC order inflow for FY26 crosses ?10,000 crore mark with new solar projects in Rajasthan and Maharashtra View More