US Edition
Musk expects ‘rough quarters’ for Tesla
UNITED STATES, JUL 24 – Tesla reported a 16% profit decline and expects challenges after the $7,500 federal EV tax credit ends, amid rising competition and political controversies, Elon Musk said.
- On Wednesday, Tesla reported another drop in quarterly profits and warned elimination of federal tax credits could lead to 'rough' quarters.
- Competition has intensified in Europe and China, and Morgan Stanley analysts said Musk's political activity "may add further near-term pressure" to shares.
- Tesla shares fell 4.1 percent in after-hours trading after revenue declines, profits dropped 16 percent to $1.2 billion, and shares fell 4.1 percent in after-hours trading.
- Shares fell Thursday as CEO Elon Musk cautioned about rough quarters, and JPMorgan Chase analysts called the stock "completely divorced from increasingly deteriorating fundamentals."
- By the second half of 2026, Musk said autonomy at scale would make Tesla economics very compelling, positioning the company for long-term technological horizons.
19 Articles
19 Articles
Tesla’s shares plummeted on Thursday after CEO Elon Musk said the company could face “some difficult quarters” while making the transition to a future focused less on selling cars and more on offering people travel in autonomous vehicles. On Wednesday night, the electric vehicle manufacturer announced another quarter of mediocre financial results, with a 12% drop in revenue and a 16% drop in profits. Many potential buyers have been discouraged b…
Tesla likely faces 'a few rough quarters' from end of US EV support, Musk says
Musk's electric vehicle maker posted the worst quarterly sales decline in more than a decade and profit that missed Wall Street targets, but its profit margin on making cars was better than many feared.
Elon's Red Ink: Tesla Reports 16% EV Revenue Drop, Stock Dives 9%
Elon Musk's Tesla reported a 16 percent decline in automotive revenue as sales fell for a second straight quarter and again failed to meet analysts' estimates. The stock is down more than nine percent in morning trading. The post Elon’s Red Ink: Tesla Reports 16% EV Revenue Drop, Stock Dives 9% appeared first on Breitbart.
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