Tesla's First-Quarter Net Income Tumbles

Tesla's financial performance for the first quarter shows a significant decline compared to the same period last year. The company reported revenue of $21.3 billion, a nine percent drop from the previous year's $23.33 billion. Net income also plummeted to $1.13 billion from $7.93 billion in the same period. Tesla attributed this decline to an arson attack at its German plant and factory downtime.