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Tesla’s profits fall short again in a weakened EV market

Bloomberg
Bloomberg • 4 min read
Tesla’s profits fall short again in a weakened EV market
Tesla Inc. fell short of Wall Street profit estimates for the fourth consecutive quarter. Photo: Bloomberg
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Tesla Inc. fell short of Wall Street profit estimates in the second quarter, extending a rocky start to the year marked by slower sales and mass firings across the company.

It was the fourth consecutive miss for the electric vehicle maker, which on Tuesday reported adjusted earnings of 52 US cents (69.99 cents) a share, short of the average analyst estimate of 60 US cents per share.

Tesla’s revenue increased to US$25.5 billion, more than the US$24.6 billion analysts were expecting. 

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