Tesla Reports Mixed First-Quarter Results
Tesla (NASDAQ: TSLA) reported its first-quarter earnings on [insert date], highlighting challenges in its robotaxi business and full self-driving (FSD) technology. Shares fell approximately 2.5% following CEO Elon Musk’s comments, with investors concerned about lowered expectations for the robotaxi fleet and the required hardware upgrades for older vehicles to access FSD.
Musk announced an increase in the 2026 capital expenditure guidance by $5 billion to $25 billion to fund six new factories and AI investments. The company, now launching robotaxis in Dallas and Houston, anticipates deployment in about a dozen states by the end of 2026, a revision from previous expectations of widespread service by year’s end. FSD revenue is not expected to be “super material” this year, compounding investor apprehensions amid a premium stock valuation of over 187 times forward earnings.
