Shares in the electric-vehicle maker fell nearly nine per cent on Thursday afternoon after it reported its quarterly automotive sales revenue slid 16 per cent from the same period last year. (The Logic)
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Shares in the electric-vehicle maker fell nearly nine per cent on Thursday afternoon after it reported its quarterly automotive sales revenue slid 16 per cent from the same period last year. (The Logic)
Talking point: CEO Elon Musk, who recently left a role in U.S. President Donald Trump’s administration, warned it could be “a few rough quarters” on an earnings call. Chief financial officer Vaibhav Taneja said the administration’s “One Big Beautiful Bill” would hurt Tesla, which has a limited number of vehicles it can deliver before consumer incentives end Sept. 30. The company’s revenue will also take a blow from having fewer regulatory credits to sell to rivals. Tesla’s second-quarter revenue of nearly US$22.5 billion missed analyst estimates compiled by Visible Alpha, mostly due to a shortfall in expected regulatory credit sales.
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