After dropping $5.13 (-2.04%) during the regular session the stock is down another $16.80 (-6.82%) at $ 229.58 after hours.
From Reuters, July 23:
Tesla misses Wall Street targets as price cuts, incentives weigh
Tesla on Tuesday reported its lowest profit margin in more than five years and missed Wall Street earnings targets in the second quarter, as the electric vehicle maker cut prices to revive demand while it increased spending on AI projects.
The company said it was on track to produce "new vehicles, including more affordable models" in the first half of 2025, although the models will result in achieving less cost reduction than previously expected.Tesla recorded automotive gross margin excluding regulatory credits of 14.65% in the second quarter, compared with estimates of 16.29%, according to 20 analysts polled by Visible Alpha.Its shares were down 5.2% in after-hours trading."Perhaps more than ever in the company's recent history, Tesla's investors need results; those will have to come fast - both for the humanoid robot and for the Robotaxi," said Thomas Monteiro, senior analyst at Investing.com....
