【环球财经】汽车业务营收下降近20% 特斯拉一季度业绩弱于预期

Core Viewpoint - Tesla's Q1 financial results showed a significant decline in automotive revenue and earnings, falling short of market expectations, indicating challenges in the electric vehicle market and broader economic conditions [2][3][4]. Financial Performance - Tesla reported Q1 revenue of $19.335 billion, a decrease of 24.8% quarter-over-quarter and 9.2% year-over-year, below the expected $21.11 billion [2]. - The automotive business generated $13.967 billion in revenue, with a quarter-over-quarter decline of 29.5% and a year-over-year decline of 19.6% [2]. - Diluted and adjusted earnings per share for Q1 were $0.27, down 55% quarter-over-quarter and 40% year-over-year, also below the expected $0.39 [2]. Sales and Deliveries - Global vehicle deliveries in Q1 totaled 336,700 units, representing a 32% decline quarter-over-quarter and a 13% decline year-over-year, marking the lowest delivery quarter since Q2 2022 [3]. - The decline in revenue was attributed to reduced vehicle delivery volumes, lower average vehicle prices, and adverse currency effects [3]. Government Subsidies and Profitability - Tesla received $595 million in government subsidies for electric vehicle sales in Q1, while the net profit for the quarter was only $420 million, indicating potential losses in the automotive business without these subsidies [2]. Business Outlook - Tesla expressed uncertainty regarding the impact of changing global trade policies on supply chains and cost structures, which may affect demand for its products [4]. - The company plans to reassess its annual performance guidance based on the speed of automation, factory output improvements, and overall macroeconomic conditions [4]. Stock Performance and Market Sentiment - Tesla's stock price rose by 4.6% to $237.97 following the earnings announcement, with a notable increase in after-hours trading [6]. - Year-to-date, Tesla's stock has declined by 41.07%, with significant short-selling activity resulting in $11.5 billion in profits for short-sellers this year [6][7]. - The stock's performance has been influenced by trade tensions and a perceived weakening of the brand, with analysts noting the need for the stock to break certain resistance levels to regain upward momentum [7].