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Tesla Earnings Disappoint, Sparking Market Concerns Amid EV Demand Slowdown
Tesla Earnings Disappoint, Sparking Market Concerns Amid EV Demand Slowdown
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BTCCSquare news:
Tesla's second-quarter earnings fell short of expectations, with revenue dropping 12% year-over-year to $22.5 billion—below the $22.64 billion forecast. Earnings per share missed estimates at $0.40 versus $0.42. The stock tumbled nearly 6% in early European trading and over 5% in after-hours U.S. markets.
Automotive revenue declined sharply by 16%, driven by weaker regulatory credit sales and softening demand in key markets. CEO Elon Musk warned of "a few rough quarters" ahead, citing the end of U.S. EV tax credits as a headwind. Investors remain skeptical of Tesla's promised affordable model, slated for 2025 production, given the lack of prototypes and the Model 3's $43,000 starting price.
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