Elon Musk's electric-vehicle maker reported a 12% drop in quarterly revenue, and a steeper decline in net income. + Musk highlighted plans to release a lower-priced Model Y electric vehicle, spoke about his hopes for a new pay package and talked up plans to roll out Tesla robotaxis more widely.

Tesla missed profit targets for a fourth straight quarter and postponed its Robotaxi event, dragging other EV names lower.

One of the more glaring omissions from Tesla’s late Wednesday earnings was that the EV maker Tesla did not update its 2025 outlook as promised.

Asian shares are lower after Wall Street inched to more records as gains for Alphabet and artificial-intelligence stocks offset a steep tumble for EV-maker Tesla

Wall Street is hanging near its records on Thursday, but the calm surface of the U.S. stock market is hiding some roiling moves underneath. Alphabet is rallying, and Tesla is sinking sharply following a jumble of profit reports from big U.

Wall Street was on track for a mixed open on Thursday as investors digested uneven earnings from megacaps like Alphabet and Tesla and monitored progress in U.S. trade negotiations.