Tesla: EPS plunges 43% in Q2

(CercleFinance.com) - On Tuesday evening, Tesla reported adjusted net income down 42% for the second quarter of 2024, to $1.
81 billion, or $0.52 per share (-43%), with adjusted EBITDA margin down 4.3 points to 14.4%.

Revenues rose by 2% to $25.5 billion, as a 7% decline in automotive activities was offset by a doubling in energy storage and generation, and a 21% rise in services and other.

We have seen a sequential rebound in vehicle deliveries as consumer sentiment improves and attractive financing options are introduced to offset the impact of high interest rates", says Elon Musk's group.

Overall, we remain focused on reducing costs within the company, developing our traditional hardware activities and accelerating the development of our AI-enabled products and services', it continues.

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