PALO ALTO, U.S. -- Tesla reported lackluster first quarter results after the bell Wednesday, with net income dropping sharply after the American electric vehicle maker cut prices in several markets including China and the U.S.
For the three months ended March, Tesla recorded $23.3 billion in revenue, up 24% year over year. However, the company logged a 24% year-over-year profit drop in the quarter, with a net income of $2.5 billion, compared to $3.3 billion a year ago.
