🚨Tesla Q2 earnings miss estimates on falling EV sales, margin pressures ⚖️
Tesla reported mixed second-quarter results with earnings falling short of estimates due to weaker margins and declining EV sales. The company’s adjusted earnings per share were $0.52 on revenue of $25.5 billion, missing Wall Street estimates of $0.61 per share but surpassing revenue expectations of $24.33 billion. Automotive sales dropped to $18.53 billion from $20.42 billion a year earlier, and gross margins excluding credits fell to 14.7% from 18.1%, missing the expected 16.3%. Tesla delivered 443,956 EVs in Q2, a 5% decrease from the previous year. Despite these challenges, Tesla's energy storage business saw significant growth, deploying 9.4 gigawatts, up 158% from last year. Looking ahead, Tesla reiterated that its vehicle volume growth rate might be lower than in 2023, but new vehicle models are still on track for production in the first half of 2025. Tesla’s stock fell 3% in after-hours trading following the report.
#KVB# #FlashNews# #BrokerNews# #TESLA# #StockMarket# #WALLSTREET# #Todayanalysis# #analysis# #fundamentalsanalysis# #RetailSales# #energy#
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.