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Earnings at Musk's car company fall as research spending cuts into profit from selling cars
Tesla's second-quarter profits fell to $1.11 billion due to increased research spending, despite a 26% revenue rise to $28.24 billion and a 25% increase in vehicle deliveries. The stock dropped 2.7% after reporting results below Wall Street forecasts, while European sales rebounded after earlier political controversies.
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- Earnings at Musk’s car company fall as research spending cuts into profit from selling cars
- Earnings at Musk's car company fall as research spending cuts into profit from selling cars
- Earnings at Musk’s car company fall as research spending cut into profit from selling cars
- Tesla profits plunge as discounts on EV models weigh on results