Tesla posted a drop in second‑quarter profit on Wednesday, even as vehicle deliveries increased, reflecting lower margins per car.
Net income for the quarter fell to $1.1 billion from $1.2 billion a year ago. Revenue jumped to $28.2 billion, up from $22.5 billion, though analysts had forecast $27.6 billion in sales and $1.3 billion in profit.
Operating expenses and capital spending both rose sharply as Tesla accelerates investment in emerging technologies such as autonomous ride‑hailing services, battery factories, semi‑truck production and other product lines, none of which are yet material contributors to earnings.
Most legacy automakers have not posted robust profit gains recently. The broader market faces modest sales growth, hampered by tariffs and geopolitical tensions, while established firms battle fast‑expanding Chinese rivals such as BYD and Geely Auto that
