Tesla's second quarter earnings reveal a challenging period, with revenue at $22.5 billion, down 12% year-over-year, marking the largest decline in a decade. Adjusted earnings per share fell to 40 cents, below forecasts. The revenue decline is largely due to decreased vehicle deliveries and price competition in the electric vehicle sector. Operating income decreased to $923 million, underperforming against estimates. Despite these setbacks, Tesla is focusing on next-generation technologies and future ambitions, which seems to resonate with investors despite current challenges.
Revenue was $22.5 billion, down approximately 12% year-over-year, the sharpest decline in at least a decade.
Tesla's double-digit percentage revenue decline was primarily attributed to the ongoing slump in vehicle deliveries.
Operating income fell significantly, coming in at $923 million, which was below consensus estimates of $1.23 billion.
Tesla had previously reported deliveries of more than 384,000 vehicles in the quarter-a drop of more than 13% from the previous year.
Collection
[
|
...
]