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Tesla releases Q1 financial report

Tesla today released its Q1 2024 financial report: revenue was $21.3 billion, slightly below analysts’ $22.3 billion expectation; gross profit margin was 17.4%, higher than the expected 16.5%; operating profit was $1.17 billion, below the expected $1.53 billion. CEO Elon Musk announced plans to update the vehicle lineup, accelerate new model launches, and possibly advance some production plans to 2025 or even late 2024.

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