Tesla reports disappointing earnings for second quarter as revenue rises 2%

Category: Business

Tesla reported weaker-than-expected earnings for Q2 2024, with automotive sales dropping for the second consecutive period. Earnings per share were 52 cents, below the expected 62 cents. Revenue increased by 2% to $24.93 billion, but automotive sales fell 7% to $19.9 billion. Despite being the top seller of electric vehicles in the U.S., Tesla is losing market share to competitors, with a 9.6% drop in sales year-over-year.

Keywords: Tesla, Elon Musk, Electric Vehicles

Source: CNBC

Update At: 7/24/2024

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