Tesla's quarterly revenue falls for the first time since 2020

Tesla's revenue fell in the first quarter as it handed over fewer electric vehicles to customers due to slowing demand and intense competition worldwide. Analysts on average had estimated $22.15 billion, according to LSEG data. The world's most valuable automaker recorded a fall in revenue in the second quarter of 2020, when the COVID-19 pandemic hampered production and deliveries.

Tesla's revenue fell in the first quarter as it handed over fewer electric vehicles to customers due to slowing demand and intense competition worldwide. The company on Tuesday reported revenue of $21.3 billion for the three months ended March, compared with $23.33 billion a year earlier. Analysts on average had estimated $22.15 billion, according to LSEG data.

The world's most valuable automaker recorded a fall in revenue in the second quarter of 2020, when the COVID-19 pandemic hampered production and deliveries.

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