Investing.com -- Tesla reported Wednesday first-quarter results that beat on both the top and bottom line as the electric vehicle maker's margins were less bad than feared despite recent price cuts.
Tesla Inc (NASDAQ:TSLA) shares were up 1% in aftermarket hours Wednesday following the news.
Tesla reported EPS of $0.91 on revenue of $24.93 billion. Analysts polled by Investing.com anticipated EPS of $0.79 cents on revenue of $24.29B.
Gross margins, which have been closely watched following recent price cuts, fell 682 basis points to 18.2% in Q2 year over year, though that was higher than analysts' estimates for 16.9%.