Tech billionaire Elon Musk's Tesla Motors posted its long-anticipated earnings report — and it painted a dire picture of the company, with net revenue plunging by three-quarters. Experts attributed a large part of the drop to people simply rejecting the brand, as Musk has become close with President Donald Trump and headed up his Department of Government Efficiency task force to dismantle the federal civil service.
Commenters on social media, including both Musk's own X platform and the alternative Bluesky platform, had a field day with the news.
"Tesla just reported what is likely the worst earnings for a mega cap tech company since Meta in February 2022," wrote hedge fund founder Spencer Hakimian.
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"A devastating Tesla earnings report today," wrote the anti-Trump group The Lincoln Project. "Net income fell 71%. Total revenue slid 9% from $21.3 billion a year earlier. Tesla stock down 41% so far in 2025, suffered their worst quarterly drop since 2022."
"Tesla posts a $400M profit, down 71% year-over-year. Revenue is down nearly $2B compared to the same time last year. Wow," wrote Washington Post tech journalist and Musk biographer Faiz Siddiqui, adding that the numbers are even worse than they look, because, "Without $595M in automotive regulatory credits, which other manufacturers buy off Tesla to comply with emissions requirements, Tesla would have posted a loss this quarter."
"This is why Republicans were posting pictures with Teslas," wrote former Ohio state senator and progressive activist Nina Turner, referencing the promotional stunt Trump and Musk held with Tesla vehicles on the White House lawn last month.
"Tesla’s the Hindenburg, and frankly it couldn’t happen to a s------r company," wrote anti-Trump author and retired journalism professor Seth Abramson, who added that, "Teslas are — by the data — poorly made, dangerous, aesthetically passé, short on promised luxuries, tied to fascism, and feature poor customer service and allegedly jacked odometers."