Tesla's reported revenue and net income dropped in 1Q24, but shares rose 12% due to optimism around a new vehicle line for budget-conscious consumers. The company has increased digital advertising spending significantly in response to declining demand in the EV industry. Sensor Tower data shows that Tesla's total US digital ad spend through 2024 YTD is up triple-digits on a YoY basis with the number of creatives up more than 10x through the same period.