DETROIT — Tesla’s second-quarter net income fell 45% compared with a year ago as the company’s global electric vehicle sales tumbled despite price cuts and low-interest financing.
Tesla reported more revenue than anticipated for the second quarter of 2024 at $25.5 billion thanks to $3 billion in energy division earnings. Earnings per share were lower than expected, though.
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Tesla's second quarter results missed analysts' estimates for its margin after the company's price-cutting push to stimulate demand had an impact on its bottom line.
Tesla’s second-quarter net income fell 45% compared with a year ago as the company’s global electric vehicle sales tumbled despite price cuts and low-interest financing.