Tesla has reported a drop in first-quarter earnings as price cuts at Elon Musk’s electric vehicle company boosted demand but hit profit margins.Profits came in at $2.5bn, down by 24 percent from the year-ago period on revenues of $23.3bn, which were up by 24 percent.Shares fell on the results, which were in line with Wall Street expectations for earnings per share but showed a lower profit margin than expected.
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