Tesla shares drop as revenue misses estimates and price cuts dent profit

Category: Business

Tesla's second-quarter automotive gross margin fell to 14.65% due to price cuts and incentives aimed at boosting demand, while revenue increased to $25.50 billion. Net income dropped to $1.48 billion from $2.70 billion a year earlier.

Keywords: Tesla, automotive gross margin, financial results

Source: New York Post

Update At: 7/24/2024

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