Elon Musk's Tesla recorded automotive gross margin excluding regulatory credits of 14.65% in the second quarter, lower than estimates of 16.29%.
Tesla reported revenue of $25.50 billion for Q2, exceeding the previous year's $24.93 billion, despite a drop in net income from $2.70 billion to $1.48 billion.
Shares of Tesla fell by about 4% after the earnings report, reflecting market reactions to the margin dip and income decrease.
Tesla continues to intensify its self-driving technology efforts amidst challenges with sagging demand and the impact of price cuts and incentives.
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