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RandySF

(80,506 posts)
Tue Apr 22, 2025, 04:33 PM Apr 2025

Tesla's 71% Drop in Profit May Pressure Elon Musk to Return to Day Job

Tesla said Tuesday that its profits fell 71 percent in the first three months of the year, which could increase the pressure on Elon Musk, the automaker’s chief executive, to curtail his work for President Trump and spend more time managing the company.

The company said it earned $409 million, down from $1.4 billion in the first quarter of 2024. The company had previously reported net profit of $1.1 billion last year, but revised the figure to reflect changes in the way cryptocurrency assets are valued.

Tesla sales have been slumping because of intense competition from Chinese carmakers like BYD, a lack of new models and Mr. Musk’s support of far-right causes, which has turned off some liberals and centrists from buying Tesla vehicles.

Tesla remains the most valuable automaker in the world as measured by its stock price, and it sells far more electric vehicles in the United States than any other company. But its shares have lost about half their value since mid-December as investors have grown more pessimistic about the company’s prospects and concerned about Mr. Musk’s role in the Trump administration.





https://www.nytimes.com/2025/04/22/business/tesla-earnings-elon-musk.html

15 replies = new reply since forum marked as read
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Tesla's 71% Drop in Profit May Pressure Elon Musk to Return to Day Job (Original Post) RandySF Apr 2025 OP
Earnings call is happening now Mike 03 Apr 2025 #1
It's a shame he's connected to to two wonderful endeavors. RandySF Apr 2025 #2
Working With The US Government modrepub Apr 2025 #5
I can't understand how the stock would be up after-hours? walkingman Apr 2025 #3
MAGA and Musk acolytes showing support by buying stock. RandySF Apr 2025 #4
Some people still believe in Musk EdmondDantes_ Apr 2025 #8
Awesome! keep up the pressure! Lets bring their earnings into negative territory! Blues Heron Apr 2025 #6
Tesla remains the most valuable automaker in the world as measured by its stock price, edhopper Apr 2025 #7
Now that the idiot behind the curtain has been revealed, tanyev Apr 2025 #9
Put him at the bottom of the ladder sakabatou Apr 2025 #10
"Return" - to finish off the 21% ? UTUSN Apr 2025 #11
Poor Elonia RJ-MacReady Apr 2025 #12
I thought tesla was trying to kick him out Meowmee Apr 2025 #13
Are you kidding? RandySF Apr 2025 #14
No I am not lol Meowmee Apr 2025 #15

Mike 03

(18,690 posts)
1. Earnings call is happening now
Tue Apr 22, 2025, 04:39 PM
Apr 2025

He sounds so fucking ridiculous. Rambling about DOGE and all the paid protesters and opposition. Not ONE WORD about business or Tesla yet.

Now he's saying he'll pull back from DOGE but he'll probably have to devote time to it for the entirety of Trump's term. (Figure that out.) A day or two or three days a week...

Still not a word about his business, TESLA.

Oh here we go. "Probably will be some unexpected bumps...."

Lunatic.

RandySF

(80,506 posts)
2. It's a shame he's connected to to two wonderful endeavors.
Tue Apr 22, 2025, 04:45 PM
Apr 2025

Electric cars and space exploration.

modrepub

(3,979 posts)
5. Working With The US Government
Tue Apr 22, 2025, 04:57 PM
Apr 2025

is probably going to be the only big company revenue source he can tap at the moment. Unless he plans on putting new show rooms in WV, AL and KY to attract all those new red state customers he's been working on.

walkingman

(10,225 posts)
3. I can't understand how the stock would be up after-hours?
Tue Apr 22, 2025, 04:52 PM
Apr 2025

I say, allow the Chinese EVs to be sold here - from what I read they are better quality and cheaper - what happened to the "free market"? I guess if you can't beat'em demonize them?

EdmondDantes_

(1,254 posts)
8. Some people still believe in Musk
Tue Apr 22, 2025, 05:10 PM
Apr 2025

If you think Musk is the magic behind Tesla, buying when he's saying he's going to devote more time to Tesla, buying on bad news is an opportunity.

Of course the great man of history theory has a bunch of flaws, but the Tesla stock has been massively overpriced based on fundamentals for a long time in large part based on Musk's cult of personality.

Blues Heron

(8,169 posts)
6. Awesome! keep up the pressure! Lets bring their earnings into negative territory!
Tue Apr 22, 2025, 05:01 PM
Apr 2025

Find a Tesla takedown protest, and make some noise! Hit him where it hurts - the bottom line!

edhopper

(36,950 posts)
7. Tesla remains the most valuable automaker in the world as measured by its stock price,
Tue Apr 22, 2025, 05:03 PM
Apr 2025

Overvalued by a factor of 10. Sells 20% of the cars Toyota does (and that number is falling) yet has a market worth 4X of Toyota.

It's not a tech company, it's a n auto maker.

tanyev

(48,482 posts)
9. Now that the idiot behind the curtain has been revealed,
Tue Apr 22, 2025, 05:19 PM
Apr 2025

they’d probably do better if they dumped him.

Meowmee

(9,212 posts)
15. No I am not lol
Tue Apr 22, 2025, 05:48 PM
Apr 2025

It was posted here a month or two ago when it was losing money.

https://www.newsweek.com/tesla-investor-calls-board-oust-elon-musk-2048755

In addition to the financial disasters he has caused for them there is this: since he had nothing to do with making these cars, and when he signed on board, they seem to have started having serious errors which he covered up and ignores etc. it would be a good idea to boot him out. If they don’t they’re a bunch of idiots. I would never buy any of their cars anyway even if I could afford it.

* We- my family, knew he was a total fraud a long time ago.

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