Tesla (NASDAQ: TSLA) didn't have a lot of good news to share with investors in its first-quarter earnings report this week.

As the company said in its summary, challenges including the Red Sea conflict, an arson attack at its factory in Berlin, and the ramp-up of its updated Model 3 all added to costs and weighed on performance.

The company also noted industrywide challenges in electric vehicles (EVs) as EV sales seem to have plateaued in the industry. Tesla already reported a 9% decline in first-quarter deliveries and Q1 revenue was also down 9% to $21.3 billion, missing the consensus at $22.15 billion. Automotive revenue was down even more sharply, falling 13% to $17.4 billion, a function of price cuts in both the industry and at Tesla.

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Source Fool.com