Tesla shares plummet after company reports falling profits

Category: Finance

Tesla shares fell 12% after an earnings report revealed declining profits due to increased competition and sluggish sales. The report indicated two consecutive quarters of profit decline, with revenue from government credits making up a significant portion of profits. Analysts express concerns over demand and the company's ability to regain growth, while some remain optimistic about future developments in autonomous vehicles.

Keywords: Tesla, earnings report, electric vehicles

Source: ABC News

Update At: 7/25/2024

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