Tesla Non-GAAP EPS of $0.41 beats by $0.06, revenue of $22.39B beats by $190M

Tesla reported Q1 results ahead of expectations: non-GAAP EPS of $0.41 beat by $0.06, and revenue of $22.39B (+15.8% y/y) beat by $190M. Gross margin improved to 21.1% from 20.1% the prior quarter. Capex rose to $2.49B and free cash flow was $1.44B. The beats and margin improvement drove a positive market reaction, with the stock trading higher (post-market +3.92% to $402.79). Overall, the report reinforces near-term operational strength and supports a bullish market response for TSLA shares.