05:51 AM EDT, 04/23/2026 (MT Newswires) -- (Updates with the latest stock price movement and analyst comments.)

Tesla (TSLA) shares were down 3% in premarket activity Thursday after the company overnight reported Q1 results, with investors focused on its outsized capital expenditure outlook.

The electric vehicle maker reported Q1 adjusted earnings late Wednesday of $0.41 per diluted share, up from $0.27 a year earlier.

Analysts polled by FactSet expected $0.36.

Revenue for the quarter was $22.39 billion, up from $19.34 billion a year earlier.

Analysts surveyed by FactSet expected $22.1 billion.

"One of the primary concerns weighing on TSLA's YTD performance has been its $20B+ capex guidance for 2026, which was much higher than expected," CFRA, an independent research provider, said in a note to MT Newswires.