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Tesla Reports Q2 Profit Down 17% to $1.2B as Stock Plunges 14.5% on July 23

GateNews
Stocks
TSLA-14.60%
According to Financial Times and Wall Street Journal, Tesla reported Q2 adjusted net profit of $1.2 billion on July 23, down 17% year-over-year and significantly below market expectations of $1.9 billion. The earnings miss triggered a 14.5% stock price decline to $319.69, erasing $215 billion in market capitalization. Despite record EV deliveries of 480,126 units and revenue up 26% to $28.2 billion, aggressive pricing discounts compressed margins to 16.3%, below the expected 18.7%. Operating margin also fell to 1.4% from 4.1% year-over-year. The selloff was compounded by delayed guidance on key products: Robotaxi service rolled out to only 7 cities versus the promised 25-50% U.S. coverage by year-end, third-generation Optimus humanoid robot remains unshown, and Semi truck production pushed to later in 2026.
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