TeslaThe quarterly financial report fell short of Wall Street expectations and was one of the worst quarterly results in recent years, showing the impact of increasingly fierce market competition and public pressure on CEO Musk on the company. Tesla said in a statement on Wednesday that adjusted earnings per share were 40 cents, slightly below analysts' average forecast. Revenue fell 12% to $22.5 billion, the largest decline in at least a decade.
However, the financial report did not reveal any new major negative news. The company said that it is still advancing its autonomous taxi and affordable vehicle plans, which slightly eased investors' concerns. Tesla said that the macroeconomic environment continues to face uncertainties, mainly due to tariff adjustments, political factors and changes in fiscal policy.
Reasons for the revenue decline include lower vehicle deliveries, lower regulatory credit revenue, and lower average selling prices.The company also reported a decline in revenue from its energy generation and storage business. However, business segments including the Supercharger network grew.
As of 4:48 pm New York time, Tesla's stock price had given up its earlier gains. As of Wednesday's close, Tesla's stock price has fallen 18% this year, but it has rebounded significantly from the lows in March and April.
Some investors chose to ignore the fluctuations in Tesla's financial data and focused more on Musk's business vision for artificial intelligence, humanoid robots and self-driving technology.
Adam Crisafulli, founder of market intelligence company Vital Knowledge, wrote in a research report, "If you think Tesla is just a car company at its core, then this financial report is indeed bad; but if you think Tesla is a giant in the field of AI and robotics, then the second quarter financial report may not change your view of its prospects."
polarization
Since Musk supported Trump, the polarization trend of the Tesla brand has become increasingly obvious. During his brief involvement in government, Musk's push to cut government spending sparked dissatisfaction among traditional left-leaning consumers and worried some investors that the project would distract them. Several analysts have lowered their forecasts for Tesla over the past few weeks.
However, Tesla's gross profit margin was higher than analysts' average expectations, indicating that its profitability is still resilient.
Investors remain eager for more details about driverless taxis, including how quickly the service will develop in Austin, Texas, and the pace of expansion to other cities. The company said it will continue to promote the optimization and expansion of this business, but did not disclose a timetable or specific regions.
Baird senior analyst Ben Kallo said in an interview that "the forward guidance this time is very limited. The company provided even fewer details on the outlook than last quarter. "Overall, there is no big news," he said.