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Tesla (TSLA) Q1 2023 earnings results in line with revenue & EPS expectations

Tesla's (TSLA) Q1 2023 earnings results are out, and it hit expectations on the head.

Donovan Erskine

April 19, 2023 1:26 PM

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With the first quarter of the year in the rearview, Tesla (TSLA) has shared its earnings report for the period. Interestingly enough Tesla neither beat nor missed expectations in Q1 2023. Instead, the company is in line with expectations.

Tesla’s Q1 2023 earnings report was released on April 19, 2023. In the report, the company shares that it made $23.3 billion in total revenue in Q1, which is essentially right on pace with Wall Street’s $23.2 billion estimate. Tesla also reported an $.85 non-GAAP EPS, which was precisely the estimate from Wall Street. Last year, Tesla made $18.8 million in revenue for Q1.

In the report, the company provided some insight into what it’s planning to do throughout the next three quarters of 2023.

Although it came in right at expectations, Tesla (TSLA) stock reacted negatively after the publishing of its Q1 2023 earnings report. Shares of the EV company were as low as $172.50 per share in after-hours trading, a drop from $180.54 prior to the close of markets.

We expect more information from Tesla’s latest quarter during its Q1 2023 earnings call later today. For all of the news coming out of the EV manufacturer today, be sure to visit our Tesla topic page.

Donovan Erskine

News Editor

Donovan is a journalist from Maryland. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge film fanatic and will talk with you about movies and games all day. You can follow him on twitter @Donimals_