Tesla’s profits slide despite growing revenue as it shifts to robotics and AI
·2 min read
Compiled by KHAO Editorial
— aggregated from 1 source + 4 references discovered via search.
See llms.txt for citation guidance.
◎ Multiple-sources
Tesla reported its second-quarter earnings on Wednesday, disclosing far lower profits than expected.
Key facts
Its revenue was $28.23bn against an expected $25.71bn
Tesla revealed earnings of 31 cents per share, a measurement of profits divided by the number of outstanding shares, less than the 51 cents per share Wall Street predicted
SpaceX and Tesla stock has slumped this year, with the rocket company down about 26% since its debut
Only about 50 Robotaxis now operate in Austin, where Tesla launched the service
Summary
Elon Musk’s automaker, once the pinnacle of his tech empire, has taken a back seat to SpaceX. Tesla revealed earnings of 31 cents per share, a measurement of profits divided by the number of outstanding shares, less than the 51 cents per share Wall Street predicted. SpaceX and Tesla stock has slumped this year, with the rocket company down about 26% since its debut. Although Tesla missed revenue expectations in its last quarterly earnings report, the company revealed earlier this month that it exceeded Wall Street’s predictions for its second-quarter auto sales.