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Q1 2025 Earnings — Results of Operations
Filed April 22, 2025
Revenue fell 9% year-over-year to $19.3B and operating income cratered 66% to just $399M (2.1% margin), as Tesla simultaneously retooled all four factories for the updated Model Y while battling lower vehicle prices, a 13% drop in deliveries, and mounting tariff uncertainty. The silver lining: energy storage deployments surged 154% YoY to 10.4 GWh and the balance sheet remains fortress-like at $37B in cash and investments, but Tesla openly warned that "changing political sentiment" could meaningfully hit near-term demand — a notable acknowledgment from a company whose CEO is deeply entangled in that very political landscape.
Filing Items
Item 2.02 — Results of Operations
The company is reporting its quarterly or annual financial results. This is the filing that accompanies an earnings call.
Item 9.01 — Financial Statements
Financial statements and exhibits are attached to this filing. Usually accompanies other items rather than standing alone.
No product milestones were identified in this filing. It may contain financial results, routine disclosures, or operational updates that don't represent specific product execution events.