Tesla Q2 profit drops 45% to $1.48bn, despite 2% revenue increase to $25.5bn, as EV sales decline.
Tesla reports a 45% Q2 profit drop to $1.48 billion, as global sales of its electric vehicles decline despite price cuts and low-interest financing. The Austin, Texas-based company's Q2 revenue increased by 2% to $25.5 billion, surpassing Wall Street expectations. However, the company's earnings per share fell short of analyst predictions. Tesla shares dropped 8% following the announcement.
July 28, 2024
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