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Tesla 1Q profit falls 55%, but stock jumps as company moves to speed production of cheaper vehicles

Tesla’s first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would move up production of new, more affordable vehicles. The Austin, Texas, company said it made $1. 13 billion from January through March compared with $2. 51 billion in the same period a year ago. Investors and analysts were looking to the earnings release for some sign that Tesla will move to end a stock slide this year and reverse the sales decline. The did a...

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