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Tesla Q2 earnings miss as deliveries slip

Source Investing

Investing.com -- Tesla reported Tuesday mixed second-quarter results as earnings fell short of estimates and the electric vehicle maker said it remained on track to start production of new and affordable vehicles in the first half of 2025.

Tesla Inc (NASDAQ:TSLA) fell 1% in afterhours following the report.

For Q2, the company reported adjusted earnings per share of $0.52 on revenue of $25.5 billion, compared with with Wall Street estimates of $0.61 a share and $24.33B, respectively.

Tesla delivered 443,956 EVs during the quarter, down 5% from the same period a year earlier.

Looking ahead, the company reiterated that vehicle volume growth rate may be notably lower than the growth rate achieved in 2023, as the company works on the launch of next generation vehicle and other products.

"Plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025," the company said.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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