Tesla reported significantly lower than expected first-quarter earnings, with revenue down 9% and adjusted income down 39%. Elon Musk attributed some of the decline to global trade uncertainty stemming from tariffs and defended his controversial role in the Department of Government Efficiency (DOGE), though he announced he will significantly reduce his time commitment to DOGE starting in May. Musk dismissed protests against his political activities as stemming from those benefiting from 'waste and fraud' that DOGE is combating. Despite the setbacks, Musk expressed optimism about Tesla's long-term prospects, citing upcoming product releases and advancements in autonomous driving.

Prepared by Christopher Adams and reviewed by editorial team.