Tesla’s profits sank sharply in the second quarter of 2024
Photo by Osmancan Gurdogan / Anadolu via Getty Images
Tesla published its second quarter earnings report, in which the company said it earned $1.48 billion in net income on $25.5 billion in revenue. That represents a 2 percent increase year over year compared to $24.9 billion in revenue in Q2 2023 but a 45 percent drop in net income.
Tesla’s gross margins were in the spotlight again, as bullish investors hoped to see improvements after years of steady decline. Rampant price cutting and cooling demand...
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