Investor's Corner
LIVE BLOG: Tesla (TSLA) Q1 2025 Company Update and earnings call
The following are live updates from Tesla’s Q1 2025 earnings call.

Tesla’s (NASDAQ:TSLA) Q1 2025 earnings call comes on the heels of the company’s Q1 2025 Update, which was released after the closing bell on April 22, 2025.
Tesla’s Q1 2025 Results:
- Total Revenues: $19.3 billion
- Total automotive revenues: $13.967 billion
- Total GAAP gross margin: 16.3%
- Gross Profit: $3.15 billion
- EPS non-GAAP: $0.27 per share
- Free cash flow: $664 million
The following are live updates from Tesla’s Q1 2025 earnings call. I will be updating this article in real time, so please keep refreshing the page to view the latest updates on this story.
16:20 CT – Hello, and happy earnings day to everyone! While Tesla missed the Street’s expectations, the stock has not shown its typical volatility at all. That being said, this earnings call is quite interesting due to the upcoming “Company Update.”
Tesla also reiterated its section about new vehicles that “remain on track for start of production in the first half of 2025” in its Update Letter. What are these vehicles? Just variants of the Model 3 or Model Y? Was the Cybertruck LR RWD one of them already? Or are they actually new cars that we’ve just never seen before?
Either way, ten minutes and counting.
16:27 CT – Now I’m just curious if the Company Update will be a video. The thumbnail Tesla is using on X and YouTube shows an “Audio Webcast Only” graphic though. Three minutes and counting.
16:28 CT – And there’s the music. Wonder if it’s going to be on time.
16:34 CT – Annd we’re now on the Elon time threshold. Tesla stock is actually up 4% in after-hours today. Pretty nutty considering that the Q1 earnings are a miss.
16:36 CT – The earnings call is formally starting. Here we go.
Elon Musk takes the stage. “There’s never dull moment these days,” he said. He admits to the blowback from his work with DOGE. He also admitted that those against DOGE are bound to attack him and his companies, such as Tesla. Musk reiterates his belief that it’s important to fight waste and fraud. “I think it’s critical work,” Musk said.
16:40 CT – Musk discusses the protests against Tesla. He alleges that the protests are not organic. “The actual reason for the protests is that those who are receiving the waste and fraud want to continue receiving the waste and fraud,” he said.
Musk notes that starting next month, in May, his time allocation for DOGE will drop significantly. He will continue to spend a day or two on government matters or as long as the U.S. President wishes him to. “Starting next month, I will be allocating more of my time with Tesla,” Musk stated.
16:43 CT – Musk noted that Tesla is no stranger to challenges, but Tesla has been through the ringer several times in the past. “We’re not on the ragged edge of death….not even close,” he said.
He also highlighted that Tesla is on the cusp of autonomous cars and autonomous humanoid robots. Musk expects unexpected bumps this year, but he remains confident on the future of Tesla. The idea of Tesla potentially being the most valuable company in the world by far was reiterated. “Maybe as valuable than the next five companies combined,” he said.
“We expect to be selling fully autonomous rides in June in August,” Musk stated. He also stated that autonomy in cars will affect the bottom line by mid-2026.
16:47 CT – Musk discusses Tesla’s supply chain, highlighting that Tesla is the least affected automaker by the Trump tariffs. That being said, Tesla has been working to localize its supply chains for years. He admitted that tariffs are tough on companies where the margins are so low. Musk also clarified that he continues to advocate for lower tariffs, but that’s all he can do. Trump has the decision.
“The tariff decision is entirely up to the President of the United States. I will weigh in on the decision, but its primarily up to the President. I continue to advocate for lower tariffs rather than higher tariffs,” Musk said.
16:50 CT – Musk noted that he would now explain why he is very excited for Tesla’s future. He noted that Tesla is laser-focused on bringing autonomy in June in Austin, Texas. He highlights Tesla’s general approach to autonomy.
“We have a general solution (to autonomy) rather than a specific solution,” Musk said.
He also noted that Tesla expects to use thousands of Optimus robots in its factories this year. He expects Optimus’ ramp would be one of the fastest. By 2030, or 2029, a million Optimus per year is plausible.
16:52 CT – Musk highlighted that the Tesla Energy unit is doing very well. “We expect the stationary energy storage to scale to terawatts per year,” he said.
16:54 CT – Musk stated that Tesla chose to update the Model Y in Q1 because the first quarter tends to be the weakest. People do not usually buy a lot of cars in winter, after all. He highlighted that the Model Y is the world’s best-selling cars.
“We picked Q1 to cut over to the production of the new Model Y…at the same time in factories across the world,” Musk stated, adding that, “In conclusion, while there are many headwinds, the future of Tesla is brighter than ever.”
He thanks the Tesla team and stated that he is looking forward to leading the team.
16:56 CT – Tesla CFO Vaibhav Taneja takes the stage. He explained the company’s reduced vehicle deliveries, which were caused by the changeover to the new Model Y across its factories. He also noted that the negative effects of vandalism and unwarranted hostility towards Tesla and its staff affected sales in some areas.
The CFO noted that even with these challenges, Tesla was able to sell out legacy Model Y in Q1. “We have an extremely competitive vehicle lineup and after that we have FSD,” he said.
17:03 CT – Taneja noted that the Powerwall 3 has been received well by customers and Tesla is currently supply constrained.
He also discusses the effects of tariffs, though he highlighted that Tesla is a very American automaker. Tesla is not immune to the tariffs, but the company could navigate the challenging landscape better than other automakers. That said, Tesla’s US lineup complies with USMCA by 85%. The company is working on non-China battery suppliers as well.
17:06 CT – Say Questions begin. First up is a question about the highest risk items on the critical path to robotaxi launch and scaling. Elon stated that robotaxis in June in Austin will be comprised of a Model Y fleet.
“Teslas that will be fully autonomous in Austin will be Model Ys,” Musk said, adding that Tesla’s paid autonomous rides will be coming to other cities later this year. “I predict there will be millions of Teslas operating fully autonomously in the second half of next year [in the US].”
Musk did state that there will be some localized parameters for Tesla’s paid autonomous rides in different regions, like snowy areas. A good driver in California won’t be as good in the middle of a blizzard in winter, after all.
17:09 CT – Ashok Elluswamy, VP of Autopilot/AI Software at Tesla, noted that localized parameters still follow Tesla’s general approach to autonomous cars. He also highlighted that validation is still critical for robotaxi operations. In Tesla’s factories today alone, there could be many days without interventions, making it hard to figure out if FSD Unsupervised is working as intended.
Musk and Taneja joked that Tesla customers in China are really pushing FSD to its limits. People in China “putting [FSD] to the real test,” Musk stated.
Cybercab is also in sample validation now, and it’s still scheduled for production next year.
17:12 CT – Another question is asked, this time about when FSD Unsupervised will be released. “Before the end of this year” in the United States, Musk stated, adding that FSD Unsupervised must be meaningfully safer than human drivers before it is released.
17:15 CT – A question about Tesla’s new cheaper models is asked, and if the company is focused on simplified versions to enhance affordability, similar to the RWD Cybertruck.
Tesla VP of Vehicle Engineering Lars Moravy noted that these cheaper vehicles are still on track. The ramp is slower than we hoped but nothing is blocking the company from initial production.
17:21 CT – Another question is asked, this time about how FSD Unsupervised will compete against Waymo’s offering, especially regarding pricing, geofencing and regulatory flexibility.
“The issue with Waymo’s cars is that it cost waayy more money,” Musk joked. He also stated that Teslas cost a quarter or 20% what a Waymo cost, and the company’s vehicles are made in large volume.
Musk predicts 99% market share for robotaxi unless other companies can deploy the same amount of vehicles on the roads as Tesla. “I don’t see anyone being able to compete with Tesla at present,” he stated.
By the end of the year Musk is confident that the Model Y will drive itself all the way to the customer autonomously from the factory.
17:25 CT – A question about the unboxed method and how that is progressing was also asked. Tesla notes that the company’s unboxed process is progressing. “You’ll see it on tests and roads in the coming months.” Tesla is also focused on improving the method, like marrying sub-assembly areas together. “This is a revolutionary production system,” Musk noted.
When describing the Cybercab line, Musk stated that “it will ultimately achieve a cycle time of 5 seconds or less.” So far, Tesla is fastest at 33 seconds in Giga Shanghai.
17:29 CT – A question about tariffs and political biases was asked. The executives noted that Tesla is very localized already. Localization for Tesla is 85% in North America and 95% in China. “We’re ridiculously vertically integrated,” Musk stated.
Tesla makes lithium, cathode and cells. Only thing left is the anode. Musk also stated that Tesla’s in-house cells are the most competitive.
17:34 CT – A question was asked if Tesla has battery supply constraints. Tesla executives noted that while tariffs pose a challenge, Tesla is prepared to face it. Tesla is also not battery constrained for vehicles.
17:36 CT – Another question was asked, this one about “brand damage.” Executives highlighted that Q1 was all about the new Model Y changeover, and the company is still dominating its segments. “Tesla is not immune to the macro demand for cars,” executives noted.
17:39 CT – A question is asked about Optimus’ production line. Musk noted that Optimus is still in development, so most of its production will be at the end of the year. He also noted that most things for Optimus production is new, so it’s ramp has its challenges.
Musk noted that Optimus is affected by the Trump administration’s tariffs against China since the humanoid robot uses robots from the country. Elon Musk also reiterated the idea that Tesla will produce 5,000 Optimus robots this year.
17:40 CT – Analyst questions begin. Pierre Ferragu of New Street Research discussed the market share of Tesla’s cars. Musk noted that “the reality is in the future most people aren’t going to buy cars.” The CEO recalled that when the iPhone came out, veteran phone makers like Nokia opted to continue making legacy products. Consumers, however, wanted the most intelligent product available.
17:43 CT – Emmanuel Rosner from Wolfe asked about the FSD and its required number of human interventions. What still needs to happen for FSD to be Unsupervised? Tesla noted that it is aware of aware of the interventions happening in public FSD, and the robotaxi service rolling out in a couple of months will be focused on key areas. “We really working through a long tail of unusual interventions,” Tesla executives noted.
When asked if Tesla will need remote operators, Tesla noted that the robotaxi service in Austin will use use them, but only if absolutely needed.
17:46 CT – Edison from Deutsche Bank asked how Optimus’ supply chain will look like. Musk noted that Tesla is focused on localization, especially considering geopolitical uncertainty. The analyst followed up with the number of robotaxis in Austin in June. Musk noted that Day 1, there will probably be 10 cars to observe.
17:49 CT – A Cannaccord analyst asked about FSD pricing. Tesla executives noted that people who bought FSD typically believe that FSD is too cheap, especially its monthly subscription. Granted, FSD is insistent that drivers pay attention to the road, which affects the pricing. But when FSD is already fully unsupervised, that monthly fee will feel very affordable.
When asked about the Indian market, Tesla explained that India is a very hard market because of its taxes.
17:53 CT – Colin Langan from Wells Fargo asked about Tesla’s vision based approach and how the company plans to get around issues like sun glare and dust. Musk noted that Tesla uses Direct Photon Counting to see clearly through fog, dust, and sun glare. With this, Teslas can drive directly facing the sun or in extremely dark environments.
The analyst asked if the affordable cars will just be a cheaper Model Y. In response, Lars Moravy noted that Tesla is using its existing lines, limiting the design of the cheaper model. The new cars will depend on existing lines, so least their form factor will be familiar.
17:57 CT – Adam Jonas of Morgan Stanley asked about the Trump tariffs. Musk highlighted that he is just one of many advisers, and he does not make decisions. “I am an advocate for predictive tariff structures,” Musk noted.
As a follow up, Jonas asked if Musk believes the US or China is ahead in the development of AI humanoids and drones. Musk laughed and noted that it’s obvious which one is ahead in drones. America sadly cannot manufacture its own drones, and China holds a notable amount of the supply chain. Musk highlighted that US should not depend so much on China to make drones.
He noted that Tesla and SpaceX will be at the top of companies’ rankings, but he is apprehensive that ranks 1 through 10 will all be Chinese companies.
18:02 CT – And that wraps up Tesla’s Q1 Company Update and earnings call! Tesla really answered a lot of questions in this call, making it one of the longest Q&A sessions to date.
With that, till the next time, everyone!
Tesla’s livestream of its Q1 2025 Company Update and earnings call can be viewed below.
Investor's Corner
LIVE BLOG: Tesla (TSLA) Q2 2025 earnings call updates
The following are live updates from Tesla’s Q2 2025 earnings call.

Tesla’s (NASDAQ:TSLA) earnings call comes on the heels of the company’s Q2 2025 update letter, which was released after the closing bell on July 23, 2025.
Tesla’s Q1 2025 Results:
Total Revenues: $22.5 billion
Total automotive revenues: $16.7 billion
Total GAAP gross margin: 17.2%
Gross Profit: $3.88 billion
EPS non-GAAP: $0.40 per share
The following are live updates from Tesla’s Q2 2025 earnings call. I will be updating this article in real time, so please keep refreshing the page to view the latest updates on this story.
16:22 CT – Good day to everyone, and welcome to another Tesla earnings call live blog. Tesla had a pretty big quarter, and while the company’s vehicle deliveries are still down year-over-year, the Robotaxi pilot has been launched in Austin.
Now to see if this earnings call starts on time. Interestingly enough, the EV maker has not posted a link to its Q2 2025 earnings call livestream on its official @Tesla X account yet.
16:26 CT – The earnings call’s livestream on YouTube, however, is up:
16:28 CT – I wonder which Elon we will get on today’s earnings call? Will be get super locked-in Elon, serious Elon, or lighthearted Elon? Whichever Elon we get, TSLA stock will probably show some reaction in after-hours trading.
16:30 CT – Travis Axelrod of Tesla’s Investor Relations team opens the call. He states that Tesla CEO Elon Musk and other executives are present. And, here’s Elon’s opening remarks.
16:33 CT – Elon opens with the launch of Tesla’s Robotaxi service in Austin, which has gotten “bigger and longer” over the past few weeks. He stated that the service area for Robotaxi services in Austin will get even bigger and longer soon. He mentions the Robotaxi service’s expansion to the Bay Area, Arizona, and Florida in the coming months.
“I think we’ll have Robotaxi in half the population of the US by the end of the year?” Musk said, highlighting that this is subject to regulatory approval. He added that Tesla is expanding its Robotaxi service cautiously.
16:35 CT – Elon noted that the Model Y became the best-selling car in several countries in n Türkiye, Netherlands, Switzerland and Austria in June. This was despite the Model Y selling in these countries without its killer feature–FSD. Despite the regulatory challenges, Elon noted that Tesla will get these approvals, and he is hoping that some areas in Europe should experience FSD in the coming months. “It really is the single biggest demand driver,” Musk said.
16:37 CT – Elon also mentioned the launch of the Tesla Diner. “This is a very special diner,” Musk said, stating that the facility is a “shining beacon of hope.” He joked that it is rare that a diner makes the news, but the newly launched restaurant is quite something.
On the other hand, Elon noted that Tesla is making significant improvements to its FSD software, and that the company could probably 10X the parameter count from what users are currently experiencing.
16:43 CT – The CEO also highlghted the growth of Tesla Energy, which he noted was a “really big deal.” As for Optimus, Musk stated that the humanoid robot is in its current second generation. Its third generation will be “exquisite,” the CEO noted.
“Tesla is by far the best in the world in real-world AI,” Musk said. He threw some shade at Waymo as well, stating that while Google is good at AI, the tech giant is not as good in real-world AI applications. All those years producing and designing cars matter.
“Tesla has the highest intelligence density in AI so far,” Musk said. “Intelligence density will be a very big deal in the future.”
16:46 CT – Musk stated that Tesla will probably see prototypes of Optimus Version 3 this year, and scale production next year. Tesla will be ramping these initiatives as fast as possible, considering the company’s aspirations to produce millions of Optimus robots per year. Musk believes that a rate of 1 million Optimus robots per year is feasible within five years.
“We’re not always on time, but we get it done,” Musk said, referencing the company’s tendency to make the impossible feel late. He also reiterated the idea that Tesla can be the omst valuable company in the world if it executes very well.
16:50 CT – Tesla CFO Vaibhav Taneja mentioned the company’s milestone of delivering a car autonomously to a customer for the first time in Q2. He also mentioned the effects of the Trump administration’s regulatory changes for electric vehicles.
He mentioned that Tesla is seeing more test drives, and the company did start the production of more affordable cars in the first half of the year, with volume production planned for the second half of the year.
16:55 CT – Investor questions begin with an inquiry about Tesla Robotaxis. Tesla noted that it expects to 10X its current operation in the coming months. The Bay Area is next, and Tesla is looking to expeedite the service’s approval.
As for technical and regulatory hurdles for Unsupervised FSD, Elon Musk stated that he believes the feature should be available in a number of cities by the end of the year. Tesla, however, is being extremely paranoid about safety, so Unsupervised FSD’s rollout will be very, very cautious. Also, Tesla vehicles from Fremont could deliver themselves to customers autonomously by the end of the year.
16:58 CT – A question about Optimus was asked. Elon noted that Optimus V3 is the right design for the humanoid robot, since it has all the degrees of freedom necessary to ensure that it can do tasks very well. He also set expectations on Optimus’ ramp.
“If we are not making 100,000 OPtimus robots per month in 60 months, I will be shocked,” Musk said.
Another question was asked about Tesla’s affordable model. Tesla noted that production did start in the first half of 2025, and a ramp is expected in the remaining months of the year. As for Tesla investing in xAI, the CFO noted that this earnings call is not the right venue to discuss such matters.
17:07 CT – Elon Musk admitted that he is creating another Master Plan. He reiterated the idea that the future of Tesla is exciting, and the company has the potential to change the world.
An investor question about HW3 vehicle was asked. Tesla noted that it is focused on rolling out Unsupervised FSD to HW4 cars first, then go back to see what can be done with HW3 cars.
As for how the Trump administration’s regulations could affect Megapack sales, Tesla noted that it still believes solar and battery projects should still see growth. “We’re forecasting a very strong second half of the year,” the company noted. Tesla is expected to launch its third Megafactory in Houston next year.
17:11 CT – Analyst questions begin. The analyst asks if Tesla could share KPIs on Tesla’s Robotaxi rollout. Tesla noted that it only has a handful of vehicles for now, but the company has more than 7,000 driverless miles in Austin so far. Elon also emphasized that the Robotaxi service is designed for maximum comfort and safety, and that the Cybercab is designed to be optimal when it comes to cost. “Cost per mile for the Cybercab will be little,” Musk said.
“Tesla Roboatxi fleet will go from tiny to gigantic in probably a very short period of time,” Musk added.
17:15 CT – Adam Jonas of Morgan Stanley asked if Elon is comfortable with having just 13% control of Tesla. Elon Musk admitted that this is a major concern for him, and he is hoping that the topic could be discsused in the upcoming annual shareholder meeting.
Elon joked that he wants to have enough control in Tesla that he cannot be ousted by activist investors, but not tool large that he cannot be removed, just in case he goes crazy. He reiterated the idea that he would be joined by several Optimus robots onstage at the upcoming annual shareholder meeting.
17:21 CT – Barclays asks Elon about the idea of putting non-Tesla vehicles being put in the Robotaxi network. Elon admitted that Tesla has really not thought about it much, though the company is extremetly focused on safety.
Goldman Sachs asked if Tesla could comment on FSD subscription trends. Tesla noted that since FSD V12 was launched in North America, there has been a notable improvement in consumer adoption. When asked if more price adjustments for FSD should be expected, Elon noted that Tesla is in a transition period in the United States. He admitted that Tesla could have a few rough quarters, but once autonomy is at scale, he would be surprised if Tesla’s economics are not compelling.
17:29 CT – Truist asked about Tesla’s more affordable models and any updates on what it would look like. Elon Musk joked that it would just look like the Model Y. He also noted that people desire Teslas, but the cars are still not affordable enough.
When asked about xAI and Tesla, Elon Musk explained that the two companies are very different. He noted that there are also some people that like to work in xAI but not Tesla, and vice versa. Would they like to work on superintelligence, or real-world AI? Both are compelling endeavors.
17:30 CT – And that wraps up Tesla’s second quarter 2025 earnings call! Thank you so much for following along as we covered this event. Until the next time!
Investor's Corner
Tesla (TSLA) Q2 2025 earnings results
Tesla posted total revenues of $22.496 billion and non-GAAP EPS of $0.40 per share.

Tesla (NASDAQ:TSLA) has released its Q2 2025 earnings results in an update letter. The document was posted on the electric vehicle maker’s official Investor Relations website after markets closed today, July 23, 2025.
Tesla’s Q2 earnings come on the heels of a quarter where the company produced over 410,000 vehicles, delivered over 384,000 vehicles, and deployed 9.6 GWh of energy storage products. The second quarter also saw the launch of the Roboaxi service’s pilot program in Austin, a notable step forward for the company’s self-driving program.
Tesla’s Q2 2025 earnings in a nutshell
As could be seen in Tesla’s Q2 2025 update letter, the company posted GAAP EPS of $0.33 and non-GAAP EPS of $0.40 per share. Tesla also posted total revenues of $22.496 billion.
In comparison, Wall Street expected Tesla to post earnings per share of $0.39, down 25% from a year ago. Tesla’s revenue is forecasted to fall 13% to $22.19 billion, and analysts also expect the electric vehicle maker to post lower margins this quarter.
Tesla’s other Q2 metrics
For the second quarter, Tesla’s total revenue decreased 12% YoY to $22.5B. Operating income also decreased 42% YoY to $0.9B, resulting in a 4.1% operating margin. Tesla still has a strong war chest, as the company’s quarter-end cash, cash equivalents and investments was $36.8B.
Product Plans
Tesla noted in its Q2 2025 update letter that the company remains focused on “prudently growing our vehicle volumes in a capex efficient manner by using our existing vehicle production capacity before building new lines.” Still, Tesla noted that plans for new vehicles that will launch in 2025 remain on track, including initial production of a more affordable model in 1H25.
Tesla also reiterated that the Cybercab will be produced using the company’s upcoming “Unboxed” manufacturing process. Volume production of the Cybercab is expected to start sometime in 2026.
Below is Tesla’s Q2 2025 update letter:
TSLA-Q2-2025-Update by Simon Alvarez on Scribd
Investor's Corner
Tesla Q2 2025 earnings: What Wall Street expects
The company has faced mounting pressure this year, with TSLA stock down 19% year-to-date.

Tesla (NASDAQ:TSLA) is set to release its second-quarter 2025 financial results after markets close on Wednesday, July 23. The company has faced mounting pressure this year, with TSLA stock down about 19% year-to-date.
What Wall Street expects
As noted in a TipRanks report, Wall Street has remained cautious about the electric vehicle maker due to concerns about the EV segment in general, competition, reduced margins, federal EV regulations, and CEO Elon Musk’s political activities.
Overall, Wall Street expects Tesla to post earnings per share of $0.39, down 25% from a year ago. Tesla’s revenue is forecasted to fall 13% to $22.19 billion, and analysts also expect the electric vehicle maker to post lower margins this quarter.
Analyst expectations
Tesla delivered approximately 384,120 vehicles in Q2, a 13.5% drop year-over-year, as per Main Street Data. The company also produced over 410,000 vehicles and deployed 9.6 GWh of energy storage products during the quarter.
Ahead of the earnings call, Cantor Fitzgerald analyst Andres Sheppard reiterated a Buy rating and a $335 per share price target. He also adjusted his Q2 revenue forecast to $21 billion, down from his previous estimate of $24.1 billion. Despite short-term softness, Sheppard maintained his 2025 and 2026 projections, citing confidence in Tesla’s high-margin Robotaxi business model.
Barclays analyst Dan Levy kept a Hold rating with a $275 price target. He stated that the company faces “increasingly weaker fundamentals,” but he also suggested that Tesla’s Robotaxi story could drive optimism. Levy expects modest gross margin improvement quarter-over-quarter and flagged the full-year EPS estimate drop from $3.20 to $1.84. Delays in launching the affordable Tesla model remain a downside risk, Levy noted.
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