Tesla's first-quarter earnings report itself was a disaster, but Musk gave investors some much-needed good news on the conference call.

Tesla's stock price has unexpectedly shot up after the Q1 2025 earnings report. Although financial results declined, Musk’s announcement that he’ll be stepping back from the government to focus on Tesla likely contributed to the stock increase.

Tesla ( TSLA 4.71%) stock gained ground today in the lead-up to its first-quarter earnings results, which were published after the market closed. The electric vehicle (EV) leader's share price ended the day up 4.8% amid a 2.5% jump for the S&P 500 and a 2.7% gain for the Nasdaq Composite.

The disappointing results come as the company struggles to sell cars to consumers angry over Elon Musk’s leadership of a federal government jobs-cutting group that has divided the country and sparked protests.

Elon Musk, CEO of Tesla, said he would be spending less time with the Trump administration after first-quarter earnings fell short of expectations.