Tesla Inc. shares are currently trading lower after the company reported its second-quarter adjusted earnings per share below Wall Street estimates. The disappointing earnings report has led to a significant decline in Tesla’s stock price.
Key Highlights from Tesla’s Q2 Report
- Adjusted earnings per share: 33 cents, missing the consensus estimate of 50 cents
- Revenue: $28.23 billion, beating the consensus estimate of $25.70 billion
- Deliveries: 480,126 vehicles, up 25% year-over-year and above the Street estimate of 406,000
- Active FSD subscriptions: 1.48 million, up 56% year-over-year and up from 1.28 million in the prior quarter
- Digital assets: $674 million, primarily Bitcoin holdings, down from $786 million in the first quarter
A Look Ahead to the Future of Tesla
The company is making progress on its production lines for the Optimus robot, with installation ahead of production expected to happen soon. The Cybercab is now listed as in production, while the Tesla Semi remains on track for volume production this year. Tesla has stated that it is focused on maximum capacity utilization at its factories, with deliveries and deployments depending on demand. The company remains optimistic about its future, stating that it has “never been more optimistic” about what’s to come.
Current Stock Price
At the time of publication, Tesla shares are trading 7.76% lower at $344.97. The decline in stock price is a significant setback for the company, despite reaching a major milestone of $100 billion in trailing-twelve-month revenue.