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Tesla profit falls short again as buyers hit brakes on EVs

Pelican Press

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Tesla profit falls short again as buyers hit brakes on EVs

Tesla fell short of Wall Street profit estimates in the second quarter, extending a rocky start to the year marked by slower sales and mass firings across the company.

It was the fourth consecutive miss for the electric-vehicle maker, which overnight Tuesday in the US reported adjusted earnings of US52¢ a share, short of the average analyst estimate of US60¢. Tesla’s revenue increased to $US25.5 billion ($38.6b) , more than the $US24.6 billion analysts were expecting.

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