Tesla’s earnings disappoint as margins stressed by new factory underutilization, higher costs

Tesla, the electric vehicle maker, saw its shares fall more than 4% after it released its first-quarter earnings report. The company reported adjusted earnings per share of 85 cents. Revenue came in at $23.33 billion, beating expectations of $23.21 billion. Tesla’s net income was $2.51 billion, down 24% from the previous year, with GAAP earnings…