Tesla beat Wall Street’s profit expectations to start the year as the automaker said demand for its electric vehicles is rebounding around the globe, hinting at a possible recovery for its long-struggling automotive business.

Adjusted earnings rose to 41 cents a share in the first quarter, the company said Wednesday in a statement, higher than the 34-cent average of analyst estimates compiled by Bloomberg. It’s the second straight quarter Tesla’s earnings have exceeded expectations.

Tesla said it “saw continued growth in demand for our vehicles” in parts of Asia-Pacific and South America, along with a rebound in North America and the Europe-Middle East region. The surprisingly optimistic comments come several weeks after the automaker reported one of its worst quarters of auto sales in years.

For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:

• Steve Man, Bloomberg Intelligence Global Autos and Industrials Research Analyst
• Ed Ludlow, Bloomberg Tech co-host
• Ross Gerber, President and CEO at Gerber Kawasaki

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Apple named hardware chief John Ternus as the iPhone maker’s next leader, with Chief Executive Officer Tim Cook shifting to the role of executive chairman.

Ternus, 50, will become CEO on Sept. 1, the company said in a statement Monday. The Apple veteran was head of hardware engineering since 2021 and has spent 25 years focused on product development at the iPhone maker. Bloomberg News previously reported that Ternus was Cook’s heir apparent.

Ternus’s hardware engineering division will be taken over by longtime deputy Tom Marieb, according to a person with knowledge of the matter. He will report to newly named Chief Hardware Officer Johny Srouji. In that role, Srouji is gaining oversight of a newly combined hardware engineering and hardware technologies group.

For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:

• Bloomberg News Senior Executive Editor for Global Technology Tom Giles
• Bloomberg Intelligence Global Tech Research Head Mandeep Singh

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President Donald Trump said he’ll send representatives to Pakistan for talks to end the Iran war on Monday evening, while again threatening to strike civilian infrastructure if Tehran doesn’t agree to a deal. Axios is reporting that Vice President Vance will lead the delegation to the negotiations in Islamabad. The President told Fox News that Special Envoy Steve Witkoff will go to the talks, while the New York Post reported that Jared Kushner will also participate.

The standoff over Hormuz — through which about a fifth of the world’s oil flowed before the US-Israeli war on Iran — threatens to deepen the global energy crisis and undermine expectations of an imminent peace deal. Hormuz is one of several unresolved issues in peace talks, including Iran’s nuclear program and Israel’s ongoing invasion of Lebanon.

On today's show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with:

- Bloomberg News White House Correspondent Courtney Subramanian and Former Defense Secretary Mark Esper, on President Trump's comments to various media outlets this morning, declaring he's ready to "knock out" Iran's power plants and bridges.

- Axios White House Reporter Marc Caputo and The Atlantic Staff Writer Nancy Youssef, on US negotiators heading to Pakistan for talks.

- Chef Andrew Zimmern on eating for sustainability, and the role of 'blue foods' in combating global hunger.

Plus, Bloomberg's Ed Ludlow joins David, Christina, and Lisa to play Pointed: The News Quiz for Risk Takers.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

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