Tesla Earnings Surprise: $1.4 Billion Cash Flow Steals Focus From Revenue Miss
Tesla reported $1.44 billion in free cash flow for the first quarter, sending shares up 3.4% in late trading, despite revenue of $22.39 billion missing Wall Street estimates. Vehicle deliveries rose 6% to 358,023 but lagged forecasts, while global inventory climbed to 27 days of supply. Net income rose 17% to $477 million. Tesla ended the quarter with $44.74 billion in cash and short-term investments.