Bengaluru | Tesla’s first-quarter profits plunged by more than two thirds amid a boycott of Elon Musk’s electric car company that has hurt sales and sent its stock plunging.
The company said on Tuesday (Wednesday AEST) that quarterly profits fell by 70 per cent to $US409 million ($642.5 million), or 12 cents a share. The drop was steeper than analysts’ estimates. Tesla’s revenue fell 9 per cent to $US19.3 billion in the January-March period, below Wall Street’s forecast.
Reuters and AP
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