Tesla’s quarterly revenue surpassed expectations at $28.2 billion, though net income fell 17% to $1.15 billion, missing analyst forecasts.
Tesla reported second-quarter revenue of $28.2 billion, exceeding analyst estimates of $27.6 billion and marking a record high. However, earnings per share came in at 33 cents, below the expected 55 cents, as net income declined 17% to $1.15 billion against forecasts of $1.27 billion.
The company delivered 480,126 vehicles, a 25% year-over-year increase, but margins appear to have been pressured by volume-focused strategies. In the prior quarter, Tesla missed revenue estimates at $22.39 billion but beat earnings expectations with 41 cents per share.
Investor reactions were mixed, with some shareholders highlighting concerns over profitability despite strong delivery growth.