Tesla doubles paid Robotaxi miles

Tesla said paid Robotaxi miles nearly doubled in the first quarter as it posted higher revenue and profit for the three months ended March 31. (assets-ir.tesla.com) (finance.yahoo.com) The company reported first-quarter revenue of about $22.39 billion, up 16% from a year earlier, with net income of $477 million and free cash flow of $1.44 billion. Tesla said active Full Self-Driving subscriptions reached 1.28 million, up 51% year over year. (finance.yahoo.com) (techcrunch.com) Tesla’s Robotaxi service is its driverless ride-hailing business, and the company said unsupervised rides went live in Dallas and Houston in April after earlier operations in Austin. Elon Musk told investors on the April 22 earnings call that Tesla aims to expand the service to “a dozen or so” states by the end of 2026. (assets-ir.tesla.com) (usatoday.com) That push comes as Tesla is asking investors to look past softer electric-vehicle demand and focus on autonomy, artificial intelligence and robotics. TechCrunch reported the quarter still showed Tesla relying on vehicle sales, services and subscriptions, while its newer bets have yet to contribute meaningful revenue. (techcrunch.com) Investors are also weighing a bigger spending cycle. Musk said Tesla will increase investment “substantially,” and Tesla’s finance chief, Vaibhav Taneja, said the company is entering a large capital-investment phase that could last a couple of years. (money.usnews.com) (finance.yahoo.com) Tesla’s shareholder update said it is preparing lines for Cybercab and Tesla Semi production and building more artificial-intelligence computing capacity. Reuters, via U.S. News, reported Tesla lifted its 2026 capital-expenditure outlook to more than $25 billion from a prior forecast of more than $20 billion. (assets-ir.tesla.com) (money.usnews.com) The core car business still sets the baseline. Tesla delivered 358,023 vehicles in the quarter and produced 408,386, leaving inventory at 27 days of supply, up from 15 days at the end of the fourth quarter. (techcrunch.com) (finance.yahoo.com) Tesla also said its Supercharger network grew to 8,463 stations, up 19% from a year earlier, as it tries to build the charging and service footprint that supports a larger fleet on the road. The company said the same quarter brought approval in the Netherlands for Full Self-Driving (Supervised), a driver-assistance system that still requires human attention. (finance.yahoo.com) (assets-ir.tesla.com) Tesla’s stock initially rose after the results, then turned lower during the earnings call as investors weighed the stronger quarter against higher spending and a rollout plan that still depends on safety validation and state-by-state expansion. (techcrunch.com) (money.usnews.com)