Tesla (TSLA) stock jumped nearly 5% in after-hours trading on Tuesday, even as the company posted weak auto sales and a steep 71% profit drop

Elon Musk says he’ll dedicate more time to Tesla starting in May after the company reported a big drop in first-quarter profit.

Tesla generated $13.97 billion in automotive revenue in the first three months of 2025, marking a drop of nearly 20% from the same quarter last year.

Tesla’s (TSLA) profit in the first quarter of 2025 plunged a stunning 71 percent, as sales dropped 9 percent from the year-ago period. Despite the sales decline — and the possibility of more to come — the electric vehicle maker’s stock actually rose after the report,

Elon Musk, CEO of Tesla, said he would be spending less time with the Trump administration after first-quarter earnings fell short of expectations.

Tesla's profits fell 71% over the first three months of this year, a company earnings release on Tuesday showed. The company's performance fell short of analysts' expectations. Total revenue decreased by 9% from one year earlier,