Tesla reported its first-quarter earnings, revealing a significant downturn in its financial performance. The electric vehicle giant posted a 40% drop in operating profit and its first revenue decline in four years, marking a stark contrast to its previous growth trajectory. The reported revenue was $21.3 billion, a 9% decrease year-over-year, and significantly below the expected $22.3 billion. Adjusted EPS stood at $0.45, missing the estimated $0.51, while GAAP EPS was $0.34. Net income was reported at $1.5 billion with a gross margin of 17.4%. During this period, Tesla's total production was 433,371 vehicles, with deliveries totaling 386,810. This financial downturn comes amid Tesla's largest layoffs and a strategic pivot towards accelerating the production of more affordable models and its robotaxi project.