Tesla Inc. (NASDAQ: TSLA) announced results for the second quarter of 2024, reporting a decrease in adjusted earnings. The bottom line also fell short of analysts’ estimates.
The electric car giant said its second-quarter revenues increased 2% year-over-year to $25.5 billion. Revenues exceeded estimates. The company produced a total of 410,831 vehicles during the three months and delivered 443,956 units.
Adjusted earnings, excluding special items, dropped to $0.52 per share in the June quarter from $0.91 per share a year earlier and missed the Street view. Unadjusted net income was $1.48 billion or $0.42 per share in Q2, compared to $2.70 billion or $0.78 per share in the corresponding period of 2023.