Tesla's Q1 operating profit this year is 1.3 trillion won...slightly exceeding expectations

Tesla's Q1 operating profit this year is 1.3 trillion won...slightly exceeding expectations

U.S. electric vehicle maker Tesla, led by Elon Musk, reported better-than-expected earnings in the first quarter of this year.

Tesla announced on the 22nd (local time) through its earnings release that its Q1 operating profit under Generally Accepted Accounting Principles (GAAP) this year was tallied at $900 million (approximately 1.3 trillion won).

This is a 136% increase compared to the same period last year. Tesla explained that one-time gains from tariffs and exchange rates had a positive impact.

Revenue increased by 16% year-on-year to $22.39 billion, and net income was $477 million. Adjusted earnings per share (EPS) was $0.41.

This result slightly exceeded market expectations.

According to MarketWatch, financial markets had expected Tesla's Q1 revenue this year to be $22.2 billion and adjusted EPS to be $0.37.

Upon this news, Tesla's stock price rose by more than 2% in after-hours trading, Bloomberg reported.