Tesla (TSLA) Q1 2025 financial results: missed big on already terrible expectations

Tesla (TSLA) released its financial results and shareholders’ letter for the first quarter (Q1) and full-year 2025 after market close today.

We are updating this post with all the details from the financial results, shareholders’ letter, and the conference call later tonight. Refresh for the latest information.

Tesla Q1 2025 earnings expectations

As we reported in our Tesla Q1 2025 earnings preview yesterday, the Wall Street consensus for this quarter was $21.345 billion in revenue and earnings of $0.41 per share.

The expectations had been significantly downgraded over the last month, as analysts were surprised by Tesla’s announcement of much lower deliveries than expected in the first quarter.

Did Tesla meet them?

Tesla Q1 2025 financial results

After the market closed today, Tesla released its financial results for the first quarter and confirmed that it missed expectations with earnings of $0.27 per share (non-GAAP), and it also missed revenue expectations with $19.335 billion during the last quarter.

This is a big miss for Tesla despite the company admitting to selling a lot more regulatory credits this quarter.

At $595 million in credit sales, Tesla would have lost money without it in Q1 2025:

In short, Tesla is on the verge of being a money-losing company.

We will be posting our follow-up posts here about the earnings and conference call to expand on the most important points (refresh the page to see the most recent posts):

• Tesla (TSLA) begins to shy away from growth guidance after terrible quarter
• Here are all the crazy claims Elon Musk made about Tesla self-driving today
• Tesla once again tells its own CEO Elon Musk to knock it off with the politics

Here’s Tesla’s Q1 2025 shareholder presentation in full:

Here’s Tesla’s conference call for the Q1 2025 results: