Tesla shares rise 6.5 pct., Musk says to cut back DOGE work

Tesla shares rose 6.5 percent in Frankfurt on Wednesday, after it reported profitability for its core auto business topped rock-bottom expectations in the first quarter, although it missed on other metrics such as revenue and net profit.

Traders were also digesting chief executive officer Elon Musk saying he would significantly cut back the time he devotes to the US administration from next month and spend more time running his many companies.

Tesla shares traded up around 5 percent in after hours trading on Tuesday.