Summary
Tesla reported a drop in revenue for the April-June quarter, with earnings falling to $22.5 billion from $25.5 billion during the same period last year. This decline is linked to decreased car deliveries and ongoing concerns regarding CEO Elon Musk's political actions and focus on Tesla. The company is also working on future growth through its robotaxi and AI initiatives.
Key Facts
- Tesla's revenue for the April-June quarter was $22.5 billion, down from $25.5 billion a year earlier.
- Analysts expected slightly higher revenue of $22.74 billion.
- Car sales revenue fell by 16% due to fewer vehicle deliveries.
- Tesla reported a 14% decline in car deliveries in the second quarter.
- Investors worry about CEO Elon Musk's attention to Tesla following his involvement in politics.
- Musk's political activities have affected Tesla's reputation in the US and Europe.
- The company has seen several executive departures, raising further concerns.
- Tesla is investing in robotaxi services and AI, seen as future growth areas.
- Tesla's stock rose by 0.1% during the trading day but fell by 0.3% after hours.
