The Palo Alto, California, company faces challenges as it tries to reach its second-straight annual profit this year. There’s a global shortage of semiconductors that’s forcing automakers to idle factories, and Tesla is facing renewed scrutiny of its Autopilot partially automated driving system after two men died in a crash earlier this month near Houston.
Excluding stock-based compensation and nonrecurring items, Tesla made 93 cents per share. That beat Wall Street estimates of 75 cents per share, according analysts polled by data provider FactSet. First-quarter revenue rose 74% to $10.39 billion, but it was just shy of the $10.48 billion expected by analysts.
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