Tesla's Second-Quarter Net Profit Reaches $1.172 Billion, Down 20.7% Year-on-Year

According to Jinse Finance, Tesla reported second-quarter revenue of $22.50 billion, a 12% year-on-year decrease, compared to the estimated $22.64 billion. Net profit for the second quarter was $1.172 billion, down 20.7% year-on-year, while the market expected $1.136 billion. Adjusted earnings per share for the second quarter were $0.40, compared to $0.52 in the same period last year and an estimated $0.42. The gross margin for the second quarter was 17.2%, compared to 18% in the same period last year and an estimated 16.5%. Free cash flow (FCF) for the second quarter was $146 million, down from $664 million in the first quarter, with analysts expecting $760 million.