Tesla Q1 revenue rises, FSD subscriptions boost profits

Tesla reported a 16% year-over-year revenue increase to $22.38 billion for its first quarter, driven by automotive sales and a growing base of 1.28 million Full Self-Driving subscriptions. Despite meeting revenue expectations, the company delivered fewer EVs than anticipated, highlighting ongoing challenges in the electric vehicle market. Profits saw a significant year-over-year drop, impacted by reduced EV demand and the expiration of federal tax credits. Tesla's financial results indicate a continued reliance on its core EV business, with future bets on AI and robotics not yet contributing substantially to its performance.