Summary by Moomoo AI
On April 23, 2024, Tesla, Inc. reported its financial results for the first quarter of 2024. The company faced several challenges during the quarter, including the Red Sea conflict and an arson attack at its Gigafactory Berlin, as well as the ramp-up of the updated Model 3 in Fremont. Despite these issues, Tesla managed to achieve a GAAP operating income of $1.2 billion and a GAAP net income of $1.1 billion. Non-GAAP net income was reported at $1.5 billion. The company's total revenue decreased by 9% year-over-year to $21.3 billion, influenced by a reduction in vehicle average selling price, a decline in vehicle deliveries, and negative foreign exchange impacts. However, Tesla saw a 7% increase in Energy Generation and Storage revenue and a 25% increase in...Show More