.Friday, July 25, 2024 08:35 AM

Tesla Inc (NASDAQ:TSLA) saw a 12% drop in shares following mixed second-quarter results. Earnings fell short of expectations, but revenue exceeded forecasts. The company confirmed plans to start producing new, cost-effective models by the first half of 2025. In Q2, Tesla reported adjusted earnings of $0.52 per share on $25.5 billion in revenue, missing Wall Street estimates of $0.61 per share and $24.33 billion in revenue. Despite delivering 443,956 electric vehicles, a 5% decrease from last year, Tesla warned of slower growth in vehicle volume moving forward due to focus on new products. The company remains committed to launching more affordable models by 2025.